Anavex Life Sciences Corp. (NASDAQ:AVXL) shares shot up 14.5% during mid-day trading on Thursday . The company traded as high as $3.71 and last traded at $3.64. 873,913 shares changed hands during mid-day trading, an increase of 115% from the average session volume of 405,848 shares. The stock had previously closed at $3.18.

A number of brokerages recently issued reports on AVXL. Zacks Investment Research upgraded shares of Anavex Life Sciences from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Tuesday, September 26th. Maxim Group set a $15.00 price objective on shares of Anavex Life Sciences and gave the stock a “buy” rating in a research report on Thursday, October 12th. ValuEngine downgraded shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Finally, Noble Financial restated a “buy” rating and set a $15.00 price objective on shares of Anavex Life Sciences in a research report on Friday, September 29th.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings data on Monday, December 11th. The biotechnology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). equities analysts forecast that Anavex Life Sciences Corp. will post -0.44 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. State of Wisconsin Investment Board purchased a new stake in shares of Anavex Life Sciences during the 2nd quarter worth approximately $151,000. Alliancebernstein L.P. purchased a new stake in Anavex Life Sciences in the 2nd quarter valued at $158,000. The Manufacturers Life Insurance Company raised its position in Anavex Life Sciences by 37.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,876 shares of the biotechnology company’s stock valued at $169,000 after purchasing an additional 8,728 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in Anavex Life Sciences in the 2nd quarter valued at $186,000. Finally, Marshall Wace North America L.P. purchased a new stake in Anavex Life Sciences in the 2nd quarter valued at $176,000. Institutional investors and hedge funds own 22.70% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/12/21/anavex-life-sciences-avxl-shares-up-14-5.html.

Anavex Life Sciences 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.

Receive News & Ratings for Anavex Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anavex Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.