Anavex Life Sciences Corp. (AVXL) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) from a buy rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “
AVXL has been the subject of a number of other reports. Noble Financial reiterated a buy rating on shares of Anavex Life Sciences Corp. in a research note on Wednesday, August 9th. Maxim Group set a $15.00 price target on shares of Anavex Life Sciences Corp. and gave the stock a buy rating in a research note on Monday, August 7th. Finally, ValuEngine upgraded shares of Anavex Life Sciences Corp. from a sell rating to a hold rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $11.50.
Anavex Life Sciences Corp. (AVXL) traded down 0.72% on Friday, reaching $4.13. 210,286 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $4.52 and its 200 day moving average price is $4.52. The company’s market cap is $174.17 million. Anavex Life Sciences Corp. has a 52-week low of $2.43 and a 52-week high of $6.30.
Anavex Life Sciences Corp. (NASDAQ:AVXL) last released its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). On average, analysts expect that Anavex Life Sciences Corp. will post ($0.38) earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in AVXL. JPMorgan Chase & Co. bought a new stake in shares of Anavex Life Sciences Corp. in the first quarter worth approximately $105,000. Northwest Investment Counselors LLC bought a new stake in shares of Anavex Life Sciences Corp. in the second quarter worth approximately $106,000. American International Group Inc. grew its stake in shares of Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,329 shares during the period. State of Wisconsin Investment Board bought a new stake in shares of Anavex Life Sciences Corp. in the second quarter worth approximately $151,000. Finally, Alliancebernstein L.P. bought a new stake in shares of Anavex Life Sciences Corp. in the second quarter worth approximately $158,000. Hedge funds and other institutional investors own 24.41% of the company’s stock.
About Anavex Life Sciences Corp.
Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.
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