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.
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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