Anavex Life Sciences Corp. (NASDAQ:AVXL) received a $15.00 price objective from equities researchers at Maxim Group in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s price objective suggests a potential upside of 159.97% from the company’s current price.

A number of other research analysts have also commented on the company. Zacks Investment Research raised Anavex Life Sciences Corp. from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Wednesday, April 12th. Noble Financial reaffirmed a “buy” rating on shares of Anavex Life Sciences Corp. in a report on Sunday, April 9th.

Anavex Life Sciences Corp. (NASDAQ:AVXL) traded down 1.37% on Monday, reaching $5.77. 185,873 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $5.83 and a 200-day moving average of $4.93. The stock’s market cap is $238.74 million. Anavex Life Sciences Corp. has a one year low of $2.43 and a one year high of $8.30.

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Several institutional investors have recently bought and sold shares of AVXL. JPMorgan Chase & Co. bought a new position in Anavex Life Sciences Corp. during the first quarter valued at approximately $105,000. American International Group Inc. increased its position in Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,329 shares during the period. Highbridge Capital Management LLC bought a new position in Anavex Life Sciences Corp. during the fourth quarter valued at approximately $151,000. Bank of America Corp DE increased its position in Anavex Life Sciences Corp. by 12.9% in the first quarter. Bank of America Corp DE now owns 39,981 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 4,561 shares during the period. Finally, Edge Wealth Management LLC bought a new position in Anavex Life Sciences Corp. during the first quarter valued at approximately $230,000. Institutional investors and hedge funds own 11.59% of the company’s stock.

About Anavex Life Sciences Corp.

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.

12 Month Chart for NASDAQ:AVXL

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