StockNews.com Begins Coverage on Anavex Life Sciences (NASDAQ:AVXL)

StockNews.com started coverage on shares of Anavex Life Sciences (NASDAQ:AVXL – Get Rating) in a report released on Thursday. The brokerage issued a sell rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the stock. HC Wainwright reiterated a buy rating and issued a $50.00 target price on shares of Anavex Life Sciences in a report on Monday, February 6th. BTIG Research reduced their target price on shares of Anavex Life Sciences from $35.00 to $28.00 and set a buy rating for the company in a report on Thursday, February 9th. Cantor Fitzgerald downgraded shares of Anavex Life Sciences from an overweight rating to a neutral rating and reduced their target price for the stock from $16.00 to $11.00 in a report on Tuesday, December 6th. Finally, Jonestrading boosted their target price on shares of Anavex Life Sciences from $40.00 to $80.00 in a report on Friday, December 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $41.80.

Anavex Life Sciences Stock Down 0.3 %

NASDAQ:AVXL opened at $9.51 on Thursday. Anavex Life Sciences has a 1-year low of $7.13 and a 1-year high of $15.24. The company has a 50-day moving average of $10.28 and a 200 day moving average of $10.30.

Anavex Life Sciences (NASDAQ:AVXL – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The biotechnology company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. As a group, analysts expect that Anavex Life Sciences will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in shares of Anavex Life Sciences during the fourth quarter valued at about $274,000. Legal & General Group Plc increased its holdings in shares of Anavex Life Sciences by 3.2% during the fourth quarter. Legal & General Group Plc now owns 36,150 shares of the biotechnology company’s stock valued at $335,000 after acquiring an additional 1,111 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Anavex Life Sciences by 309.9% during the fourth quarter. Millennium Management LLC now owns 833,524 shares of the biotechnology company’s stock valued at $7,718,000 after acquiring an additional 630,156 shares in the last quarter. Morgan Stanley increased its holdings in shares of Anavex Life Sciences by 75.8% during the fourth quarter. Morgan Stanley now owns 383,483 shares of the biotechnology company’s stock valued at $3,551,000 after acquiring an additional 165,312 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its holdings in shares of Anavex Life Sciences by 29.5% during the fourth quarter. E Fund Management Co. Ltd. now owns 24,362 shares of the biotechnology company’s stock valued at $226,000 after acquiring an additional 5,547 shares in the last quarter. Institutional investors and hedge funds own 31.22% of the company’s stock.

Anavex Life Sciences Company Profile

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Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.