Anavex Life Sciences Corp. (NASDAQ:AVXL) Given Consensus Rating of “Hold” by Analysts

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have been assigned an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $21.3333.

AVXL has been the subject of a number of analyst reports. Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences in a research report on Monday, May 4th. They issued a “buy” rating and a $20.00 price objective for the company. Weiss Ratings cut Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th.

Hedge Funds Weigh In On Anavex Life Sciences

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of Anavex Life Sciences by 17,921.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 744,469 shares of the biotechnology company’s stock worth $2,650,000 after buying an additional 740,338 shares during the last quarter. Apella Capital LLC boosted its stake in Anavex Life Sciences by 10.9% during the 1st quarter. Apella Capital LLC now owns 153,006 shares of the biotechnology company’s stock valued at $470,000 after acquiring an additional 15,000 shares during the last quarter. Graetz Wealth LLC bought a new stake in shares of Anavex Life Sciences in the 4th quarter worth about $50,000. AXQ Capital LP increased its position in shares of Anavex Life Sciences by 30.9% in the 4th quarter. AXQ Capital LP now owns 24,996 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 5,895 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its stake in shares of Anavex Life Sciences by 23.1% in the 4th quarter. Delta Asset Management LLC TN now owns 16,000 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 3,000 shares in the last quarter. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Stock Up 3.5%

AVXL opened at $3.51 on Wednesday. The firm’s 50 day moving average is $2.67 and its 200-day moving average is $3.36. Anavex Life Sciences has a 52-week low of $2.26 and a 52-week high of $11.70. The firm has a market capitalization of $325.27 million, a P/E ratio of -9.00 and a beta of 1.15.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Thursday, July 30th. The biotechnology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Equities analysts expect that Anavex Life Sciences will post -0.33 earnings per share for the current fiscal year.

About Anavex Life Sciences

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.