Anavex Life Sciences Corp. (NASDAQ:AVXL) Given Average Recommendation of “Hold” by Brokerages

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have earned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $21.3333.

AVXL has been the topic of several recent analyst reports. Rodman & Renshaw started coverage on Anavex Life Sciences in a report on Monday, May 4th. They set a “buy” rating and a $20.00 target price on the stock. Wall Street Zen upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings raised Anavex Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, February 10th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $24.00 target price on shares of Anavex Life Sciences in a research note on Tuesday, March 31st.

Anavex Life Sciences Trading Up 6.5%

Shares of NASDAQ:AVXL opened at $2.94 on Friday. The company has a 50 day moving average of $3.20 and a 200-day moving average of $3.92. The firm has a market cap of $272.45 million, a P/E ratio of -6.39 and a beta of 1.24. Anavex Life Sciences has a twelve month low of $2.61 and a twelve month high of $13.99.

Hedge Funds Weigh In On Anavex Life Sciences

Large investors have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Anavex Life Sciences by 33.4% in the 4th quarter. State Street Corp now owns 4,383,406 shares of the biotechnology company’s stock worth $15,605,000 after purchasing an additional 1,096,288 shares during the last quarter. Two Sigma Investments LP lifted its stake in Anavex Life Sciences by 6.5% during the third quarter. Two Sigma Investments LP now owns 1,036,954 shares of the biotechnology company’s stock valued at $9,229,000 after purchasing an additional 63,685 shares during the last quarter. Summit Financial LLC boosted its holdings in Anavex Life Sciences by 103.3% during the fourth quarter. Summit Financial LLC now owns 903,392 shares of the biotechnology company’s stock worth $3,216,000 after buying an additional 459,121 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Anavex Life Sciences by 187.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 872,968 shares of the biotechnology company’s stock worth $3,108,000 after buying an additional 569,579 shares in the last quarter. Finally, Invesco Ltd. grew its position in Anavex Life Sciences by 55.8% in the second quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock worth $7,966,000 after buying an additional 309,605 shares during the last quarter. Institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

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.