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

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $20.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 444.96% from the stock’s current price.

Several other research firms have also commented on AVXL. Weiss Ratings restated a “sell (e+)” rating on shares of Anavex Life Sciences in a research report on Monday, December 15th. Jones Trading lowered shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Friday, October 24th. D. Boral Capital restated a “buy” rating and issued a $24.00 target price on shares of Anavex Life Sciences in a research report on Monday, December 15th. Finally, Wall Street Zen lowered shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 23rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Anavex Life Sciences has an average rating of “Hold” and an average target price of $22.00.

Anavex Life Sciences Trading Down 5.7%

Shares of NASDAQ AVXL opened at $3.67 on Friday. Anavex Life Sciences has a 12-month low of $2.86 and a 12-month high of $14.44. The company has a market cap of $327.91 million, a price-to-earnings ratio of -6.80 and a beta of 1.15. The stock’s 50 day simple moving average is $5.88 and its 200 day simple moving average is $8.43.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Tuesday, November 25th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. During the same period in the prior year, the company earned ($0.14) EPS. As a group, equities analysts forecast that Anavex Life Sciences will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

Large investors have recently bought and sold shares of the stock. Delta Asset Management LLC TN raised its holdings in shares of Anavex Life Sciences by 9.1% during the second quarter. Delta Asset Management LLC TN now owns 12,000 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 1,000 shares during the period. Ameriprise Financial Inc. grew its position in Anavex Life Sciences by 1.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company’s stock worth $793,000 after purchasing an additional 1,233 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Anavex Life Sciences by 22.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,535 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 1,559 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in Anavex Life Sciences by 11.9% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 19,700 shares of the biotechnology company’s stock valued at $182,000 after purchasing an additional 2,100 shares during the period. Finally, Independent Advisor Alliance raised its stake in Anavex Life Sciences by 5.7% during the 3rd quarter. Independent Advisor Alliance now owns 47,799 shares of the biotechnology company’s stock valued at $425,000 after purchasing an additional 2,593 shares during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.