Anavex Life Sciences (NASDAQ:AVXL) Raised to “Buy” at ValuEngine

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

Several other research firms have also weighed in on AVXL. Zacks Investment Research raised Anavex Life Sciences from a sell rating to a hold rating in a research note on Wednesday, April 10th. Roth Capital reaffirmed a buy rating on shares of Anavex Life Sciences in a research note on Thursday, May 23rd. Finally, Janney Montgomery Scott started coverage on Anavex Life Sciences in a research note on Tuesday, June 18th. They issued a buy rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $8.00.

NASDAQ:AVXL opened at $3.23 on Friday. The company has a 50-day simple moving average of $3.18. The firm has a market capitalization of $171.39 million, a price-to-earnings ratio of -8.28 and a beta of 2.38. Anavex Life Sciences has a twelve month low of $1.25 and a twelve month high of $4.00.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. Sell-side analysts forecast that Anavex Life Sciences will post -0.69 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of AVXL. B. Riley Financial Inc. bought a new position in Anavex Life Sciences in the first quarter valued at about $351,000. Tibra Equities Europe Ltd bought a new position in Anavex Life Sciences in the first quarter valued at about $258,000. Park West Asset Management LLC raised its position in Anavex Life Sciences by 1.6% in the fourth quarter. Park West Asset Management LLC now owns 3,495,615 shares of the biotechnology company’s stock valued at $5,453,000 after purchasing an additional 53,450 shares during the last quarter. Virtu Financial LLC bought a new position in Anavex Life Sciences in the first quarter valued at about $152,000. Finally, Hikari Power Ltd raised its position in Anavex Life Sciences by 17.6% in the first quarter. Hikari Power Ltd now owns 174,080 shares of the biotechnology company’s stock valued at $531,000 after purchasing an additional 26,000 shares during the last quarter. Hedge funds and other institutional investors own 14.62% 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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