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

Anavex Life Sciences Corp. (NASDAQ:AVXL) has received an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.3333.

AVXL has been the topic of a number of research reports. 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 objective on the stock. Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, D. Boral Capital reissued a “buy” rating and issued a $24.00 target price on shares of Anavex Life Sciences in a report on Tuesday, March 31st.

Hedge Funds Weigh In On Anavex Life Sciences

Several institutional investors have recently bought and sold shares of the business. State of Wyoming purchased a new position in shares of Anavex Life Sciences in the 2nd quarter worth $26,000. Quarry LP purchased a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at about $36,000. Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 6,924 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Anavex Life Sciences in the 2nd quarter valued at about $95,000. Finally, HBW Advisory Services LLC bought a new position in shares of Anavex Life Sciences in the 4th quarter valued at about $40,000. Institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Trading Down 3.2%

Shares of AVXL stock opened at $2.40 on Friday. The stock has a market capitalization of $222.41 million, a price-to-earnings ratio of -5.22 and a beta of 1.14. Anavex Life Sciences has a 12-month low of $2.26 and a 12-month high of $12.81. The stock’s 50-day moving average price is $2.62 and its 200-day moving average price is $3.50.

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.