Anavex Life Sciences Corp. (NASDAQ:AVXL) has been given a $15.00 price target by analysts at Maxim Group in a report released on Thursday. The firm presently has a “buy” rating on the biotechnology company’s stock. Maxim Group’s price target indicates a potential upside of 244.83% from the stock’s current price.

Several other brokerages have also commented on AVXL. ValuEngine lowered shares of Anavex Life Sciences Corp. from a “hold” rating to a “sell” rating in a report on Friday, June 30th. Zacks Investment Research lowered shares of Anavex Life Sciences Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Noble Financial reiterated a “buy” rating and set a $15.00 target price on shares of Anavex Life Sciences Corp. in a report on Friday, September 29th.

Anavex Life Sciences Corp. (NASDAQ:AVXL) traded up 8.21% on Thursday, reaching $4.35. The company had a trading volume of 1,082,178 shares. Anavex Life Sciences Corp. has a one year low of $2.76 and a one year high of $6.64. The firm’s market capitalization is $183.45 million. The company’s 50 day moving average is $4.27 and its 200-day moving average is $4.27.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.09) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). On average, equities research analysts expect that Anavex Life Sciences Corp. will post ($0.37) earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in shares of Anavex Life Sciences Corp. during the first quarter valued at approximately $105,000. Northwest Investment Counselors LLC purchased a new position in shares of Anavex Life Sciences Corp. during the second quarter valued at approximately $106,000. American International Group Inc. lifted its holdings in shares of 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 valued at $115,000 after purchasing an additional 1,329 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Anavex Life Sciences Corp. during the second quarter valued at approximately $151,000. Finally, Alliancebernstein L.P. purchased a new position in shares of Anavex Life Sciences Corp. during the second quarter valued at approximately $158,000. 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.

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