Anavex Life Sciences Corp. (NASDAQ:AVXL) Receives Consensus Rating of “Hold” from Brokerages

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $21.3333.

A number of research analysts have recently weighed in on AVXL shares. Weiss Ratings cut Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Rodman & Renshaw assumed coverage on Anavex Life Sciences in a research report on Monday, May 4th. They issued a “buy” rating and a $20.00 price target for the company. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $24.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, March 31st.

Anavex Life Sciences Stock Down 7.0%

Shares of AVXL stock opened at $2.54 on Tuesday. Anavex Life Sciences has a fifty-two week low of $2.41 and a fifty-two week high of $13.99. The stock has a market cap of $235.38 million, a P/E ratio of -5.52 and a beta of 1.20. The business has a fifty day simple moving average of $2.97 and a 200-day simple moving average of $3.73.

Institutional Trading of Anavex Life Sciences

Large investors have recently made changes to their positions in the stock. State of Wyoming acquired a new stake in shares of Anavex Life Sciences during the second quarter valued at $26,000. Quarry LP acquired a new stake in shares of Anavex Life Sciences during the third quarter valued at $36,000. Russell Investments Group Ltd. boosted its stake in shares of Anavex Life Sciences by 11,540.0% during the third quarter. Russell Investments Group Ltd. now owns 6,984 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 6,924 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Anavex Life Sciences during the second quarter valued at $95,000. Finally, HBW Advisory Services LLC acquired a new stake in shares of Anavex Life Sciences during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

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.