Anavex Life Sciences (NASDAQ:AVXL) Given “Buy” Rating at HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Thursday, TipRanks reports. They currently have a $39.00 price target on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 115.83% from the stock’s previous close.

Other analysts have also issued reports about the company. BTIG Research initiated coverage on Anavex Life Sciences in a report on Thursday, September 23rd. They set a “buy” rating and a $35.00 target price on the stock. Dawson James raised their target price on Anavex Life Sciences from $19.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, June 21st. Zacks Investment Research raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Cantor Fitzgerald lifted their price target on Anavex Life Sciences from $31.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, June 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Anavex Life Sciences presently has a consensus rating of “Buy” and an average price target of $30.04.

Shares of NASDAQ:AVXL traded up $0.40 on Thursday, hitting $18.07. 8,227 shares of the company traded hands, compared to its average volume of 829,653. Anavex Life Sciences has a 52 week low of $4.30 and a 52 week high of $31.50. The stock has a 50 day simple moving average of $18.42 and a 200-day simple moving average of $17.33. The company has a market cap of $1.37 billion, a PE ratio of -37.65 and a beta of 0.78.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings results on Wednesday, August 11th. The biotechnology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). On average, equities analysts anticipate that Anavex Life Sciences will post -0.52 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. bought a new position in shares of Anavex Life Sciences during the 2nd quarter worth about $25,000. PNC Financial Services Group Inc. bought a new stake in Anavex Life Sciences in the second quarter valued at approximately $46,000. Captrust Financial Advisors increased its stake in Anavex Life Sciences by 129.6% in the first quarter. Captrust Financial Advisors now owns 3,444 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 1,944 shares in the last quarter. Evoke Wealth LLC bought a new stake in shares of Anavex Life Sciences during the first quarter worth $57,000. Finally, Kessler Investment Group LLC bought a new stake in shares of Anavex Life Sciences during the second quarter worth $69,000. Hedge funds and other institutional investors own 28.27% of the company’s stock.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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