Anavex Life Sciences Corp (NASDAQ:AVXL) has earned a consensus recommendation of “Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $9.00.

AVXL has been the subject of several research reports. Roth Capital initiated coverage on shares of Anavex Life Sciences in a research report on Monday, January 28th. They set a “buy” rating and a $10.00 price target for the company. Zacks Investment Research lowered shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, ValuEngine raised shares of Anavex Life Sciences from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th.

Shares of NASDAQ AVXL traded down $0.06 during midday trading on Wednesday, hitting $3.64. 917 shares of the company’s stock traded hands, compared to its average volume of 330,567. Anavex Life Sciences has a 1 year low of $1.25 and a 1 year high of $4.35. The firm has a market capitalization of $181.73 million, a P/E ratio of -9.44 and a beta of 2.47.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. As a group, analysts forecast that Anavex Life Sciences will post -0.67 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of Anavex Life Sciences in the 1st quarter valued at about $39,000. Morgan Stanley boosted its position in shares of Anavex Life Sciences by 156.8% in the 1st quarter. Morgan Stanley now owns 19,538 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 11,931 shares during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Anavex Life Sciences in the 1st quarter valued at about $49,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Anavex Life Sciences in the 1st quarter valued at about $49,000. Finally, Citigroup Inc. boosted its position in shares of Anavex Life Sciences by 1,553.3% in the 1st quarter. Citigroup Inc. now owns 16,434 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 15,440 shares during the period. 14.58% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system diseases. The company's lead drug candidate is ANAVEX 2-73, which has completed Phase 2a clinical trial for Alzheimer's disease; and preclinical clinical trials to treat Parkinson's disease, Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis.

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