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

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXLGet Free Report) have received an average rating of “Hold” from the five analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $21.3333.

Several equities research analysts have weighed in on AVXL shares. D. Boral Capital restated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a report on Tuesday, March 31st. Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Finally, Rodman & Renshaw assumed coverage on Anavex Life Sciences in a research report on Monday, May 4th. They set a “buy” rating and a $20.00 price objective for the company.

Get Our Latest Report on AVXL

Anavex Life Sciences Price Performance

Shares of NASDAQ AVXL opened at $2.60 on Tuesday. The stock’s 50-day moving average is $2.91 and its two-hundred day moving average is $3.67. Anavex Life Sciences has a 1-year low of $2.41 and a 1-year high of $13.99. The company has a market cap of $240.94 million, a price-to-earnings ratio of -5.65 and a beta of 1.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new position in shares of Anavex Life Sciences during the 2nd quarter worth about $26,000. Quarry LP acquired a new position in shares of Anavex Life Sciences during the 3rd quarter worth about $36,000. HBW Advisory Services LLC acquired a new position in shares of Anavex Life Sciences during the 4th quarter worth about $40,000. BNC Wealth Management LLC boosted its position 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 acquiring an additional 2,000 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new position in shares of Anavex Life Sciences during the 4th quarter worth about $44,000. 31.55% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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