Anavex Life Sciences Corp. (NASDAQ:AVXL) Given Average Rating of “Buy” by Analysts


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Anavex Life Sciences Corp. (NASDAQ:AVXL) has earned an average recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $17.60.

Several equities analysts recently weighed in on AVXL shares. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $20.00 target price on shares of Anavex Life Sciences in a research note on Wednesday, February 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $25.00 price target (up from $10.00) on shares of Anavex Life Sciences in a report on Monday, March 1st. Finally, Zacks Investment Research lowered shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, February 12th.

In other news, Director Elliot Favus sold 145,500 shares of the company’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $12.66, for a total transaction of $1,842,030.00. Following the completion of the transaction, the director now directly owns 45,000 shares of the company’s stock, valued at approximately $569,700. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AVXL. BlackRock Inc. boosted its stake in shares of Anavex Life Sciences by 4.5% during the 4th quarter. BlackRock Inc. now owns 3,678,763 shares of the biotechnology company’s stock worth $19,866,000 after acquiring an additional 159,918 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Anavex Life Sciences in the 4th quarter valued at about $341,000. Vontobel Holding Ltd. acquired a new stake in Anavex Life Sciences during the fourth quarter worth approximately $324,000. Squarepoint Ops LLC acquired a new position in Anavex Life Sciences in the third quarter valued at $256,000. Finally, Jane Street Group LLC purchased a new stake in Anavex Life Sciences in the 3rd quarter valued at about $246,000. Institutional investors own 18.92% of the company’s stock.

Shares of NASDAQ:AVXL traded down $0.19 during midday trading on Wednesday, reaching $11.61. The company’s stock had a trading volume of 883,200 shares, compared to its average volume of 3,647,262. Anavex Life Sciences has a 12-month low of $3.01 and a 12-month high of $28.70. The firm has a 50 day moving average of $14.06 and a 200-day moving average of $8.39. The firm has a market capitalization of $813.06 million, a P/E ratio of -26.22 and a beta of 0.70.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Wednesday, February 10th. The biotechnology company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). As a group, analysts predict that Anavex Life Sciences will post -0.46 EPS for the current fiscal year.

About Anavex Life Sciences

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.

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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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