Anavex Life Sciences Corp. (NASDAQ:AVXL) Receives Consensus Rating of “Hold” from Analysts

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have received an average recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $21.3333.

AVXL has been the topic of a number of recent analyst reports. Rodman & Renshaw initiated coverage on shares of Anavex Life Sciences in a research report on Monday. They issued a “buy” rating and a $20.00 target price on the stock. Weiss Ratings raised shares of Anavex Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, February 10th. Wall Street Zen raised shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $24.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, March 31st.

Anavex Life Sciences Stock Performance

Shares of AVXL stock traded up $0.15 on Monday, hitting $3.47. 101,781 shares of the stock traded hands, compared to its average volume of 1,412,663. The firm’s 50-day moving average price is $3.78 and its two-hundred day moving average price is $4.61. The stock has a market capitalization of $321.10 million, a PE ratio of -7.53 and a beta of 1.24. Anavex Life Sciences has a twelve month low of $2.61 and a twelve month high of $13.99.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. On average, equities research analysts anticipate that Anavex Life Sciences will post -0.33 EPS for the current fiscal year.

Institutional Trading of Anavex Life Sciences

Institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming purchased a new stake in Anavex Life Sciences during the second quarter worth about $26,000. AlphaQuest LLC purchased a new stake in Anavex Life Sciences during the third quarter worth about $29,000. Quarry LP purchased a new stake in shares of Anavex Life Sciences during the third quarter worth approximately $36,000. Russell Investments Group Ltd. raised its holdings in Anavex Life Sciences by 11,540.0% in the third quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 6,924 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Anavex Life Sciences in the second quarter valued at approximately $95,000. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

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.