Anavex Life Sciences Corp. (NASDAQ:AVXL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $5.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.47% from the company’s current price.

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 equities research analysts have also recently issued research reports about the company. Noble Financial restated a “buy” rating on shares of Anavex Life Sciences Corp. in a research note on Wednesday, August 9th. ValuEngine upgraded Anavex Life Sciences Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Maxim Group set a $15.00 target price on Anavex Life Sciences Corp. and gave the company a “buy” rating in a research note on Monday, May 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $11.50.

Anavex Life Sciences Corp. (NASDAQ AVXL) opened at 4.33 on Monday. The company has a 50-day moving average price of $4.52 and a 200-day moving average price of $4.52. The firm’s market cap is $182.60 million. Anavex Life Sciences Corp. has a 12-month low of $2.43 and a 12-month high of $6.30.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). On average, analysts predict that Anavex Life Sciences Corp. will post ($0.38) earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Anavex Life Sciences Corp. by 13.1% during the 1st quarter. Vanguard Group Inc. now owns 1,485,681 shares of the biotechnology company’s stock worth $8,528,000 after purchasing an additional 171,577 shares in the last quarter. Edge Wealth Management LLC raised its stake in shares of Anavex Life Sciences Corp. by 50.0% during the 2nd quarter. Edge Wealth Management LLC now owns 60,000 shares of the biotechnology company’s stock worth $331,000 after purchasing an additional 20,000 shares in the last quarter. Park West Asset Management LLC raised its stake in shares of Anavex Life Sciences Corp. by 97.5% during the 1st quarter. Park West Asset Management LLC now owns 2,962,090 shares of the biotechnology company’s stock worth $17,002,000 after purchasing an additional 1,462,090 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Anavex Life Sciences Corp. by 16.8% during the 1st quarter. Geode Capital Management LLC now owns 276,974 shares of the biotechnology company’s stock worth $1,589,000 after purchasing an additional 39,934 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Anavex Life Sciences Corp. by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 111,880 shares of the biotechnology company’s stock worth $642,000 after purchasing an additional 5,826 shares in the last quarter. Institutional investors own 24.41% of the company’s stock.

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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