ValuEngine Upgrades Anavex Life Sciences (AVXL) to “Buy”

ValuEngine upgraded shares of Anavex Life Sciences (NASDAQ:AVXL) from a hold rating to a buy rating in a report issued on Wednesday, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Anavex Life Sciences from a hold rating to a sell rating in a research report on Wednesday. Roth Capital set a $10.00 price target on shares of Anavex Life Sciences and gave the stock a buy rating in a research report on Friday, February 8th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Anavex Life Sciences currently has an average rating of Buy and an average target price of $7.50.

Shares of AVXL stock opened at $3.47 on Wednesday. Anavex Life Sciences has a one year low of $1.25 and a one year high of $4.35. The company has a market cap of $170.45 million, a P/E ratio of -8.90 and a beta of 2.47.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. Equities research analysts expect that Anavex Life Sciences will post -0.67 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Anavex Life Sciences by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 291,948 shares of the biotechnology company’s stock worth $455,000 after buying an additional 3,687 shares during the period. Wells Fargo & Company MN grew its stake in Anavex Life Sciences by 10.0% during the first quarter. Wells Fargo & Company MN now owns 59,567 shares of the biotechnology company’s stock worth $181,000 after buying an additional 5,428 shares during the period. Morgan Stanley grew its stake in Anavex Life Sciences by 156.8% during the first quarter. Morgan Stanley now owns 19,538 shares of the biotechnology company’s stock worth $59,000 after buying an additional 11,931 shares during the period. Jane Street Group LLC purchased a new stake in Anavex Life Sciences during the first quarter worth approximately $39,000. Finally, Wedbush Securities Inc. purchased a new stake in Anavex Life Sciences during the first quarter worth approximately $43,000. 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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