Zacks Investment Research downgraded shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “

Other research analysts have also issued reports about the company. Maxim Group set a $15.00 target price on Anavex Life Sciences Corp. and gave the stock a buy rating in a report on Monday, May 22nd. Noble Financial reissued a buy rating on shares of Anavex Life Sciences Corp. in a report on Sunday, May 14th. Finally, ValuEngine raised Anavex Life Sciences Corp. from a sell rating to a hold rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $11.44.

Anavex Life Sciences Corp. (NASDAQ:AVXL) opened at 4.44 on Friday. Anavex Life Sciences Corp. has a 12 month low of $2.43 and a 12 month high of $6.64. The firm’s 50-day moving average is $4.38 and its 200-day moving average is $5.40. The firm’s market capitalization is $187.24 million.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last posted its earnings results on Monday, August 7th. The biotechnology company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). On average, equities research analysts expect that Anavex Life Sciences Corp. will post ($0.38) EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Anavex Life Sciences Corp. during the first quarter worth $105,000. Northwest Investment Counselors LLC purchased a new stake in Anavex Life Sciences Corp. during the second quarter valued at about $106,000. American International Group Inc. increased its stake in Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,329 shares during the period. State of Wisconsin Investment Board purchased a new stake in Anavex Life Sciences Corp. during the second quarter valued at about $151,000. Finally, Alliancebernstein L.P. purchased a new stake in Anavex Life Sciences Corp. during the second quarter valued at about $158,000. 24.41% of the stock is currently owned by institutional investors and hedge funds.

Anavex Life Sciences Corp. Company Profile

Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.

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