Shares of Anavex Life Sciences Corp (NASDAQ:AVXL) dropped 8.9% during mid-day trading on Friday . The company traded as low as $2.62 and last traded at $2.65, approximately 933,242 shares were traded during mid-day trading. An increase of 130% from the average daily volume of 405,376 shares. The stock had previously closed at $2.91.
Several brokerages have recently issued reports on AVXL. Zacks Investment Research cut Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. ValuEngine lowered shares of Anavex Life Sciences from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Anavex Life Sciences has an average rating of “Buy” and a consensus target price of $9.20.
The stock’s fifty day moving average price is $2.58 and its two-hundred day moving average price is $2.88. The firm has a market capitalization of $156.90 million, a price-to-earnings ratio of -6.79 and a beta of 2.17.
Anavex Life Sciences Company Profile (NASDAQ:AVXL)
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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