Anavex Life Sciences’ (AVXL) “Buy” Rating Reiterated at HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Thursday, TipRanks reports. They presently have a $39.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 115.83% from the stock’s current price.

Other research analysts have also issued reports about the company. BTIG Research assumed coverage on Anavex Life Sciences in a report on Thursday, September 23rd. They issued a “buy” rating and a $35.00 price objective on the stock. Cantor Fitzgerald raised their target price on Anavex Life Sciences from $31.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, June 28th. Zacks Investment Research raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Dawson James increased their price target on Anavex Life Sciences from $19.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, June 21st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $30.04.

Shares of AVXL stock traded up $0.40 during trading hours on Thursday, reaching $18.07. 8,227 shares of the company traded hands, compared to its average volume of 829,653. Anavex Life Sciences has a 12-month low of $4.30 and a 12-month high of $31.50. The company has a market cap of $1.37 billion, a P/E ratio of -37.65 and a beta of 0.78. The firm has a 50-day moving average price of $18.42 and a 200 day moving average price of $17.33.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Wednesday, August 11th. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). Sell-side analysts expect that Anavex Life Sciences will post -0.52 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of Anavex Life Sciences by 1,687.4% during the first quarter. Citigroup Inc. now owns 179,994 shares of the biotechnology company’s stock valued at $2,691,000 after acquiring an additional 169,924 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Anavex Life Sciences by 385.9% during the second quarter. Alliancebernstein L.P. now owns 89,400 shares of the biotechnology company’s stock valued at $2,044,000 after acquiring an additional 71,000 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Anavex Life Sciences by 134.2% during the first quarter. Bank of Montreal Can now owns 23,692 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 13,575 shares in the last quarter. EAM Investors LLC bought a new position in shares of Anavex Life Sciences during the second quarter worth about $4,063,000. Finally, Brookstone Capital Management bought a new position in shares of Anavex Life Sciences during the second quarter worth about $354,000. Institutional investors and hedge funds own 28.27% of the company’s stock.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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