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

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

A number of equities analysts have recently issued reports on AVXL shares. Weiss Ratings upgraded shares of Anavex Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. D. Boral Capital restated a “buy” rating and set a $24.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, March 31st. HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, February 10th. Wall Street Zen upgraded shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Rodman & Renshaw began coverage on shares of Anavex Life Sciences in a research report on Monday. They set a “buy” rating and a $20.00 target price on the stock.

Anavex Life Sciences Trading Up 4.4%

NASDAQ:AVXL traded up $0.15 during mid-day trading on Monday, hitting $3.47. The stock had a trading volume of 101,781 shares, compared to its average volume of 1,412,663. The stock has a 50-day simple moving average of $3.78 and a two-hundred day simple moving average of $4.61. The company has a market capitalization of $321.10 million, a PE ratio of -7.53 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.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Monday, February 9th. The biotechnology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Sell-side analysts predict that Anavex Life Sciences will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Anavex Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its stake in shares of Anavex Life Sciences by 1.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company’s stock worth $793,000 after buying an additional 1,233 shares during the last quarter. BNC Wealth Management LLC raised its stake in shares of Anavex Life Sciences by 19.5% during the 4th quarter. BNC Wealth Management LLC now owns 12,250 shares of the biotechnology company’s stock worth $44,000 after buying an additional 2,000 shares during the last quarter. Independent Advisor Alliance raised its stake in shares of Anavex Life Sciences by 5.7% during the 3rd quarter. Independent Advisor Alliance now owns 47,799 shares of the biotechnology company’s stock worth $425,000 after buying an additional 2,593 shares during the last quarter. State of Wyoming acquired a new position in shares of Anavex Life Sciences during the 2nd quarter worth $26,000. Finally, Opus Capital Group LLC raised its stake in shares of Anavex Life Sciences by 8.6% during the 4th quarter. Opus Capital Group LLC now owns 37,700 shares of the biotechnology company’s stock worth $134,000 after buying an additional 3,000 shares during the last quarter. Institutional investors and hedge funds 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.