Anavex Life Sciences Corp. (NASDAQ:AVXL) Receives $21.33 Average Target Price from Brokerages

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat.com reports. One 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 12-month target price among brokerages that have covered the stock in the last year is $21.3333.

AVXL has been the topic of several recent research reports. Weiss Ratings lowered shares of Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. D. Boral Capital restated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, March 31st. Finally, Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences in a report on Monday, May 4th. They set a “buy” rating and a $20.00 price target on the stock.

Institutional Investors Weigh In On Anavex Life Sciences

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Anavex Life Sciences by 10.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,525 shares of the biotechnology company’s stock worth $434,000 after buying an additional 4,869 shares in the last quarter. Legal & General Group Plc raised its holdings in Anavex Life Sciences by 19.0% in the 2nd quarter. Legal & General Group Plc now owns 86,972 shares of the biotechnology company’s stock valued at $802,000 after acquiring an additional 13,886 shares in the last quarter. Rhumbline Advisers raised its holdings in Anavex Life Sciences by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 128,370 shares of the biotechnology company’s stock valued at $1,184,000 after acquiring an additional 7,377 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Anavex Life Sciences in the 2nd quarter worth approximately $135,000. Finally, Prudential Financial Inc. bought a new stake in shares of Anavex Life Sciences in the 2nd quarter worth approximately $95,000. 31.55% of the stock is currently owned by institutional investors.

Anavex Life Sciences Price Performance

Shares of AVXL opened at $2.55 on Friday. The company has a market capitalization of $236.31 million, a price-to-earnings ratio of -5.54 and a beta of 1.14. Anavex Life Sciences has a fifty-two week low of $2.26 and a fifty-two week high of $13.99. The business’s 50-day moving average is $2.65 and its 200-day moving average is $3.52.

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.