Research analysts at Roth Capital initiated coverage on shares of Anavex Life Sciences (NASDAQ:AVXL) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $6.00 price target on the biotechnology company’s stock. Roth Capital’s price target suggests a potential upside of 101.34% from the stock’s previous close.
AVXL has been the subject of several other research reports. ValuEngine downgraded shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Maxim Group set a $14.00 price objective on shares of Anavex Life Sciences and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Noble Financial restated a “buy” rating on shares of Anavex Life Sciences in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $7.63.
Anavex Life Sciences (AVXL) opened at $2.98 on Thursday. The company has a market cap of $136.84, a price-to-earnings ratio of -8.76 and a beta of 1.05. Anavex Life Sciences has a 12 month low of $2.25 and a 12 month high of $6.49.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVXL. Millennium Management LLC boosted its stake in Anavex Life Sciences by 95.2% in the fourth quarter. Millennium Management LLC now owns 44,895 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 21,895 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Anavex Life Sciences in the second quarter valued at $158,000. The Manufacturers Life Insurance Company boosted its stake in Anavex Life Sciences by 37.7% in the second quarter. The Manufacturers Life Insurance Company now owns 31,876 shares of the biotechnology company’s stock valued at $169,000 after acquiring an additional 8,728 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Anavex Life Sciences by 12.1% in the second quarter. Wells Fargo & Company MN now owns 40,385 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 4,347 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Anavex Life Sciences by 150.9% in the fourth quarter. Deutsche Bank AG now owns 82,967 shares of the biotechnology company’s stock valued at $266,000 after acquiring an additional 49,904 shares in the last quarter. Institutional investors own 22.77% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This story was published by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/3253375/anavex-life-sciences-avxl-research-coverage-started-at-roth-capital.html.
Anavex Life Sciences Company Profile
Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.
Receive News & Ratings for Anavex Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anavex Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.