Anavex Life Sciences Corp (AVXL) Receives Average Rating of “Buy” from Analysts

Shares of Anavex Life Sciences Corp (NASDAQ:AVXL) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $8.50.

A number of equities research analysts have commented on AVXL shares. Zacks Investment Research raised shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Roth Capital started coverage on shares of Anavex Life Sciences in a research report on Monday, January 28th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, ValuEngine raised shares of Anavex Life Sciences from a “hold” rating to a “buy” rating in a research report on Wednesday.

Shares of NASDAQ:AVXL traded up $0.30 during trading hours on Wednesday, reaching $3.45. The stock had a trading volume of 1,014,693 shares, compared to its average volume of 317,894. Anavex Life Sciences has a 1 year low of $1.25 and a 1 year high of $4.35. The company has a market cap of $169.45 million, a PE ratio of -8.85 and a beta of 2.47.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.01. As a group, research analysts expect that Anavex Life Sciences will post -0.58 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Deutsche Bank AG acquired a new stake in Anavex Life Sciences during the 4th quarter worth $28,000. Wedbush Securities Inc. acquired a new stake in Anavex Life Sciences during the 1st quarter worth $43,000. Charles Schwab Investment Management Inc. acquired a new stake in Anavex Life Sciences during the 1st quarter worth $49,000. ExodusPoint Capital Management LP acquired a new stake in Anavex Life Sciences during the 1st quarter worth $49,000. Finally, Citigroup Inc. boosted its stake in Anavex Life Sciences by 1,553.3% during the 1st quarter. Citigroup Inc. now owns 16,434 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 15,440 shares during the period. Hedge funds and other institutional investors own 14.58% of the company’s stock.

About Anavex Life Sciences

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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