Anavex Life Sciences Corp (NASDAQ:AVXL)’s stock price was down 7.8% during trading on Thursday . The stock traded as low as $2.72 and last traded at $2.82, approximately 847,874 shares were traded during trading. An increase of 107% from the average daily volume of 410,496 shares. The stock had previously closed at $3.06.

Several equities analysts recently commented on AVXL shares. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, July 8th. ValuEngine upgraded shares of Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Janney Montgomery Scott started coverage on shares of Neurotrope in a research note on Tuesday, June 18th. They set a “buy” rating and a $14.00 target price for the company. Finally, Roth Capital reiterated a “buy” rating on shares of Resverlogix in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Anavex Life Sciences has an average rating of “Buy” and a consensus target price of $8.15.

The firm has a market capitalization of $158.08 million, a PE ratio of -7.23 and a beta of 2.38. The stock’s fifty day simple moving average is $3.21.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. As a group, research analysts anticipate that Anavex Life Sciences Corp will post -0.68 EPS for the current year.

A number of institutional investors have recently made changes to their positions in AVXL. Deutsche Bank AG bought a new stake in Anavex Life Sciences in the 4th quarter valued at $28,000. Wedbush Securities Inc. bought a new stake in Anavex Life Sciences in the 1st quarter valued at $43,000. Edge Wealth Management LLC increased its holdings in Anavex Life Sciences by 200.0% in the 1st quarter. Edge Wealth Management LLC now owns 30,000 shares of the biotechnology company’s stock valued at $91,000 after buying an additional 20,000 shares during the period. AllSquare Wealth Management LLC increased its holdings in Anavex Life Sciences by 98.3% in the 1st quarter. AllSquare Wealth Management LLC now owns 32,390 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 16,060 shares during the period. Finally, Virtu Financial LLC bought a new stake in Anavex Life Sciences in the 1st quarter valued at $152,000. 14.27% of the stock is currently owned by hedge funds and other institutional investors.

About Anavex Life Sciences (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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