Anavex Life Sciences (AVXL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Anavex Life Sciences (NASDAQ:AVXL) from a buy rating to a hold rating in a research note released on Friday morning.

According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “

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Other analysts have also issued reports about the stock. Maxim Group set a $14.00 price target on shares of Anavex Life Sciences and gave the company a buy rating in a research report on Monday, December 11th. Roth Capital began coverage on shares of Anavex Life Sciences in a report on Thursday, March 8th. They set a buy rating and a $6.00 target price for the company. Finally, Noble Financial reiterated a buy rating on shares of Anavex Life Sciences in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Anavex Life Sciences presently has an average rating of Hold and a consensus target price of $7.25.

Shares of Anavex Life Sciences (AVXL) opened at $2.51 on Friday. Anavex Life Sciences has a 1 year low of $2.25 and a 1 year high of $6.49.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Wednesday, February 7th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter. equities analysts expect that Anavex Life Sciences will post -0.41 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Anavex Life Sciences by 37.7% during the second quarter. The Manufacturers Life Insurance Company now owns 31,876 shares of the biotechnology company’s stock worth $169,000 after purchasing an additional 8,728 shares during the period. Millennium Management LLC boosted its holdings in shares of Anavex Life Sciences by 95.2% during the fourth quarter. Millennium Management LLC now owns 44,895 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 21,895 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Anavex Life Sciences by 40.8% during the third quarter. Wells Fargo & Company MN now owns 56,873 shares of the biotechnology company’s stock worth $236,000 after purchasing an additional 16,488 shares during the period. Deutsche Bank AG boosted its holdings in shares of Anavex Life Sciences by 150.9% during the fourth quarter. Deutsche Bank AG now owns 82,967 shares of the biotechnology company’s stock worth $266,000 after purchasing an additional 49,904 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Anavex Life Sciences by 60.3% during the fourth quarter. Bank of New York Mellon Corp now owns 177,938 shares of the biotechnology company’s stock worth $573,000 after purchasing an additional 66,931 shares during the period. Institutional investors own 22.75% of the company’s stock.

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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.

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