Anavex Life Sciences Corp (NASDAQ:AVXL) Receives Consensus Rating of “Buy” from Brokerages

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Shares of Anavex Life Sciences Corp (NASDAQ:AVXL) have been given an average rating of “Buy” by the six analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $13.00.

Several equities research analysts have issued reports on AVXL shares. BidaskClub raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. ValuEngine upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Zacks Investment Research lowered Anavex Life Sciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Capital Management LLC acquired a new stake in Anavex Life Sciences in the 4th quarter valued at $27,000. Squarepoint Ops LLC acquired a new position in Anavex Life Sciences in the 3rd quarter worth approximately $40,000. FormulaFolio Investments LLC acquired a new position in Anavex Life Sciences in the 3rd quarter worth approximately $44,000. Lionsbridge Wealth Management LLC acquired a new position in Anavex Life Sciences in the 4th quarter worth approximately $39,000. Finally, Kessler Investment Group LLC boosted its stake in Anavex Life Sciences by 418.0% in the 3rd quarter. Kessler Investment Group LLC now owns 20,721 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 16,721 shares during the period. Institutional investors and hedge funds own 22.89% of the company’s stock.

Shares of NASDAQ AVXL traded down $0.07 during midday trading on Friday, hitting $5.09. The stock had a trading volume of 1,406,880 shares, compared to its average volume of 1,279,262. The company has a market capitalization of $313.27 million, a PE ratio of -10.18 and a beta of 2.11. The stock has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $2.91. Anavex Life Sciences has a 1 year low of $2.10 and a 1 year high of $6.31.

Anavex Life Sciences (NASDAQ:AVXL) last released its earnings results on Thursday, February 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. Equities research analysts anticipate that Anavex Life Sciences will post -0.54 earnings per share for the current year.

About Anavex Life Sciences

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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