Anavex Life Sciences (AVXL) Upgraded to Buy by ValuEngine

Anavex Life Sciences (NASDAQ:AVXL) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, ValuEngine reports.

Other analysts have also issued research reports about the company. Zacks Investment Research lowered Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Wednesday. Roth Capital set a $10.00 price target on Anavex Life Sciences and gave the stock a “buy” rating in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $7.40.

Shares of NASDAQ:AVXL traded up $0.30 during trading on Wednesday, reaching $3.45. 1,014,693 shares of the company traded hands, compared to its average volume of 317,894. The firm has a market cap of $169.45 million, a PE ratio of -8.85 and a beta of 2.47. Anavex Life Sciences has a 52-week low of $1.25 and a 52-week high of $4.35.



Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. As a group, equities research analysts forecast that Anavex Life Sciences will post -0.58 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Hikari Power Ltd bought a new stake in shares of Anavex Life Sciences during the fourth quarter valued at about $231,000. Park West Asset Management LLC increased its position in shares of Anavex Life Sciences by 1.6% during the fourth quarter. Park West Asset Management LLC now owns 3,495,615 shares of the biotechnology company’s stock valued at $5,453,000 after buying an additional 53,450 shares during the period. Geode Capital Management LLC increased its position in shares of Anavex Life Sciences by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 291,948 shares of the biotechnology company’s stock valued at $455,000 after buying an additional 3,687 shares during the period. Deutsche Bank AG bought a new stake in shares of Anavex Life Sciences during the fourth quarter valued at about $28,000. Finally, Tibra Equities Europe Ltd bought a new stake in shares of Anavex Life Sciences during the first quarter valued at about $258,000. 14.58% of the stock is owned by institutional investors.

Anavex Life Sciences Company Profile

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system diseases. The company's lead drug candidate is ANAVEX 2-73, which has completed Phase 2a clinical trial for Alzheimer's disease; and preclinical clinical trials to treat Parkinson's disease, Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis.

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