Anavex Life Sciences Corp (NASDAQ:AVXL) Receives $10.75 Consensus Target Price from Analysts

Shares of Anavex Life Sciences Corp (NASDAQ:AVXL) have earned an average rating of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $10.75.

Several analysts recently issued reports on AVXL shares. Dawson James started coverage on shares of Anavex Life Sciences in a research report on Wednesday, July 24th. They issued a “buy” rating and a $16.00 price target for the company. ValuEngine downgraded shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Thursday.

A number of hedge funds and other institutional investors have recently bought and sold shares of AVXL. JPMorgan Chase & Co. acquired a new stake in Anavex Life Sciences in the 2nd quarter valued at $38,000. FormulaFolio Investments LLC bought a new position in Anavex Life Sciences during the 3rd quarter valued at $44,000. Kessler Investment Group LLC lifted its stake in Anavex Life Sciences by 418.0% during the 3rd quarter. Kessler Investment Group LLC now owns 20,721 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 16,721 shares in the last quarter. Foster Victor Wealth Advisors LLC bought a new position in Anavex Life Sciences during the 3rd quarter valued at $76,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Anavex Life Sciences during the 2nd quarter valued at $120,000. 22.46% of the stock is owned by institutional investors and hedge funds.

Shares of AVXL stock traded down $0.06 during trading hours on Monday, hitting $2.72. 230,900 shares of the company were exchanged, compared to its average volume of 388,348. The firm has a market cap of $145.31 million, a P/E ratio of -6.97 and a beta of 2.27. Anavex Life Sciences has a fifty-two week low of $1.25 and a fifty-two week high of $4.09. The company has a 50 day simple moving average of $3.01 and a two-hundred day simple moving average of $2.98.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. On average, analysts anticipate that Anavex Life Sciences will post -0.63 earnings per share for the current fiscal year.

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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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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