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

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have earned an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $21.3333.

Several equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $20.00 price target on shares of Anavex Life Sciences in a report on Tuesday, February 10th. Wall Street Zen raised shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings upgraded shares of Anavex Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences in a research note on Monday, May 4th. They set a “buy” rating and a $20.00 target price for the company. Finally, D. Boral Capital restated a “buy” rating and issued a $24.00 target price on shares of Anavex Life Sciences in a research report on Tuesday, March 31st.

Anavex Life Sciences Price Performance

NASDAQ:AVXL opened at $2.94 on Friday. The firm has a market capitalization of $272.45 million, a P/E ratio of -6.39 and a beta of 1.24. The business has a 50 day simple moving average of $3.20 and a 200 day simple moving average of $3.92. Anavex Life Sciences has a 12-month low of $2.61 and a 12-month high of $13.99.

Institutional Trading of Anavex Life Sciences

Several large investors have recently added to or reduced their stakes in AVXL. State Street Corp raised its stake in Anavex Life Sciences by 33.4% during the 4th quarter. State Street Corp now owns 4,383,406 shares of the biotechnology company’s stock valued at $15,605,000 after acquiring an additional 1,096,288 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Anavex Life Sciences by 6.5% during the third quarter. Two Sigma Investments LP now owns 1,036,954 shares of the biotechnology company’s stock valued at $9,229,000 after purchasing an additional 63,685 shares during the period. Summit Financial LLC increased its holdings in shares of Anavex Life Sciences by 103.3% during the fourth quarter. Summit Financial LLC now owns 903,392 shares of the biotechnology company’s stock valued at $3,216,000 after purchasing an additional 459,121 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Anavex Life Sciences by 187.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 872,968 shares of the biotechnology company’s stock valued at $3,108,000 after purchasing an additional 569,579 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Anavex Life Sciences by 55.8% during the second quarter. Invesco Ltd. now owns 863,959 shares of the biotechnology company’s stock valued at $7,966,000 after purchasing an additional 309,605 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

About Anavex Life Sciences

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.