Anavex Life Sciences Corp. (NASDAQ:AVXL) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other equities analysts have also weighed in on AVXL. Maxim Group set a $15.00 price target on Anavex Life Sciences Corp. and gave the company a “buy” rating in a research report on Monday, August 7th. Noble Financial reiterated a “buy” rating on shares of Anavex Life Sciences Corp. in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Anavex Life Sciences Corp. from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research report on Thursday, August 10th.

Anavex Life Sciences Corp. (AVXL) opened at $3.99 on Tuesday. Anavex Life Sciences Corp. has a 1 year low of $3.31 and a 1 year high of $6.64.

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Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Anavex Life Sciences Corp. by 13.1% during the 1st quarter. Vanguard Group Inc. now owns 1,485,681 shares of the biotechnology company’s stock worth $8,528,000 after acquiring an additional 171,577 shares during the period. Edge Wealth Management LLC boosted its position in Anavex Life Sciences Corp. by 50.0% during the 2nd quarter. Edge Wealth Management LLC now owns 60,000 shares of the biotechnology company’s stock worth $331,000 after acquiring an additional 20,000 shares during the period. Virtu KCG Holdings LLC acquired a new stake in Anavex Life Sciences Corp. during the 2nd quarter worth about $186,000. Geode Capital Management LLC boosted its position in Anavex Life Sciences Corp. by 16.8% during the 1st quarter. Geode Capital Management LLC now owns 276,974 shares of the biotechnology company’s stock worth $1,589,000 after acquiring an additional 39,934 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Anavex Life Sciences Corp. by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 111,880 shares of the biotechnology company’s stock worth $642,000 after acquiring an additional 5,826 shares during the period. Institutional investors and hedge funds own 24.42% 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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