Brokerages Set Anavex Life Sciences Corp. (NASDAQ:AVXL) Price Target at $21.33

Anavex Life Sciences Corp. (NASDAQ:AVXLGet Free Report) has been given an average recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $21.3333.

AVXL has been the subject of several analyst reports. Weiss Ratings upgraded shares of Anavex Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, February 10th. D. Boral Capital reiterated a “buy” rating and issued a $24.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, March 31st. Rodman & Renshaw initiated coverage on shares of Anavex Life Sciences in a research note on Monday, May 4th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th.

View Our Latest Analysis on AVXL

Institutional Investors Weigh In On Anavex Life Sciences

Several large investors have recently modified their holdings of AVXL. State of Wyoming purchased a new stake in shares of Anavex Life Sciences during the 2nd quarter worth approximately $26,000. AlphaQuest LLC purchased a new stake in shares of Anavex Life Sciences during the 3rd quarter worth approximately $29,000. Quarry LP purchased a new stake in shares of Anavex Life Sciences during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new stake in shares of Anavex Life Sciences during the 4th quarter worth approximately $40,000. Finally, BNC Wealth Management LLC increased its stake 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 purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Stock Performance

NASDAQ:AVXL opened at $2.82 on Friday. The firm has a market cap of $261.34 million, a price-to-earnings ratio of -6.13 and a beta of 1.20. Anavex Life Sciences has a 52 week low of $2.61 and a 52 week high of $13.99. The firm has a 50-day moving average price of $3.06 and a two-hundred day moving average price of $3.82.

About Anavex Life Sciences

(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.

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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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