Anavex Life Sciences Corp. (NASDAQ:AVXL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “

Other analysts have also issued research reports about the stock. Maxim Group set a $15.00 target price on shares of Anavex Life Sciences Corp. and gave the stock a “buy” rating in a research report on Monday, May 22nd. Noble Financial restated a “buy” rating on shares of Anavex Life Sciences Corp. in a research report on Wednesday, August 9th. Finally, ValuEngine upgraded shares of Anavex Life Sciences Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $11.63.

Anavex Life Sciences Corp. (NASDAQ:AVXL) traded down 1.56% on Friday, reaching $4.43. The company had a trading volume of 327,858 shares. The stock has a 50 day moving average price of $4.63 and a 200 day moving average price of $5.34. Anavex Life Sciences Corp. has a 52-week low of $2.43 and a 52-week high of $6.30. The stock’s market capitalization is $186.82 million.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.09) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.09). Analysts expect that Anavex Life Sciences Corp. will post ($0.38) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/09/15/anavex-life-sciences-corp-avxl-cut-to-hold-at-zacks-investment-research-2.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. boosted its position in Anavex Life Sciences Corp. by 7.1% during the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 1,329 shares during the last quarter. Teachers Advisors LLC boosted its position in Anavex Life Sciences Corp. by 5.7% during the second quarter. Teachers Advisors LLC now owns 67,746 shares of the biotechnology company’s stock worth $360,000 after acquiring an additional 3,681 shares during the last quarter. Wells Fargo & Company MN boosted its position in Anavex Life Sciences Corp. by 12.1% during the second quarter. Wells Fargo & Company MN now owns 40,385 shares of the biotechnology company’s stock worth $215,000 after acquiring an additional 4,347 shares during the last quarter. Bank of America Corp DE boosted its position in Anavex Life Sciences Corp. by 12.9% during the first quarter. Bank of America Corp DE now owns 39,981 shares of the biotechnology company’s stock worth $229,000 after acquiring an additional 4,561 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Anavex Life Sciences Corp. by 14.8% during the second quarter. Rhumbline Advisers now owns 40,342 shares of the biotechnology company’s stock worth $215,000 after acquiring an additional 5,205 shares during the last quarter. Hedge funds and other institutional investors own 24.41% 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.

Get a free copy of the Zacks research report on Anavex Life Sciences Corp. (AVXL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Anavex Life Sciences Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anavex Life Sciences Corp. and related companies with MarketBeat.com's FREE daily email newsletter.