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

Anavex Life Sciences Corp. (NASDAQ:AVXL) has been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.3333.

A number of analysts have issued reports on AVXL shares. D. Boral Capital reissued a “buy” rating and issued a $24.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, March 31st. Weiss Ratings lowered Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Rodman & Renshaw started coverage on Anavex Life Sciences in a research note on Monday, May 4th. They issued a “buy” rating and a $20.00 price target on the stock.

Anavex Life Sciences Trading Down 7.0%

Shares of NASDAQ:AVXL opened at $2.54 on Tuesday. The stock’s 50-day moving average price is $2.97 and its two-hundred day moving average price is $3.73. Anavex Life Sciences has a 12-month low of $2.41 and a 12-month high of $13.99. The firm has a market cap of $235.38 million, a price-to-earnings ratio of -5.52 and a beta of 1.20.

Institutional Trading of Anavex Life Sciences

A number of hedge funds have recently added to or reduced their stakes in AVXL. State of Wyoming acquired a new position in shares of Anavex Life Sciences in the 2nd quarter valued at about $26,000. Quarry LP acquired a new position in shares of Anavex Life Sciences in the 3rd quarter valued at about $36,000. Russell Investments Group Ltd. lifted its stake in shares of Anavex Life Sciences by 11,540.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 6,924 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Anavex Life Sciences in the 2nd quarter valued at about $95,000. Finally, HBW Advisory Services LLC acquired a new position in shares of Anavex Life Sciences in the 4th quarter valued at about $40,000. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Company Profile

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.