ValuEngine Upgrades Anavex Life Sciences (NASDAQ:AVXL) to Buy

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

A number of other equities research analysts have also weighed in on the company. Roth Capital reaffirmed a buy rating on shares of Anavex Life Sciences in a report on Thursday, May 23rd. Dawson James began coverage on Anavex Life Sciences in a report on Wednesday, July 24th. They issued a buy rating and a $16.00 price objective on the stock. Janney Montgomery Scott began coverage on Anavex Life Sciences in a report on Tuesday, June 18th. They issued a buy rating and a $10.00 price objective on the stock. Finally, Zacks Investment Research raised Anavex Life Sciences from a sell rating to a hold rating and set a $3.75 price objective on the stock in a report on Monday, July 8th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $9.46.

Shares of AVXL opened at $3.26 on Monday. Anavex Life Sciences has a twelve month low of $1.25 and a twelve month high of $4.09. The stock’s 50 day moving average is $2.65 and its two-hundred day moving average is $2.96. The firm has a market capitalization of $171.11 million, a PE ratio of -8.36 and a beta of 2.33.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.03. On average, equities analysts predict that Anavex Life Sciences will post -0.62 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Deutsche Bank AG acquired a new stake in shares of Anavex Life Sciences during the 4th quarter valued at approximately $28,000. JPMorgan Chase & Co. acquired a new stake in shares of Anavex Life Sciences during the 2nd quarter valued at approximately $38,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Anavex Life Sciences during the 2nd quarter valued at approximately $120,000. B. Riley Financial Inc. acquired a new stake in shares of Anavex Life Sciences during the 1st quarter valued at approximately $351,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Anavex Life Sciences by 562.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 105,179 shares of the biotechnology company’s stock valued at $355,000 after acquiring an additional 89,305 shares during the period. Institutional investors own 22.34% 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.

Further Reading: Equal Weight Rating

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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