Shares of Anavex Life Sciences Corp (NASDAQ:AVXL) have been assigned an average recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.50.

AVXL has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Anavex Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. ValuEngine upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Maxim Group started coverage on Anavex Life Sciences in a report on Wednesday, May 16th. They issued a “buy” rating and a $7.00 target price on the stock. Noble Financial set a $7.00 target price on Anavex Life Sciences and gave the company a “buy” rating in a report on Wednesday, May 16th. Finally, HC Wainwright started coverage on Anavex Life Sciences in a report on Wednesday, May 30th. They issued a “buy” rating and a $10.00 target price on the stock.

Shares of NASDAQ:AVXL traded up $0.01 during midday trading on Monday, reaching $2.71. The company’s stock had a trading volume of 116,083 shares, compared to its average volume of 470,674. The company has a market cap of $124.48 million, a P/E ratio of -8.21 and a beta of 1.15. Anavex Life Sciences has a 1 year low of $1.85 and a 1 year high of $5.15.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings data on Thursday, August 9th. The biotechnology company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. research analysts forecast that Anavex Life Sciences will post -0.39 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the stock. Park West Asset Management LLC boosted its holdings in Anavex Life Sciences by 11.1% in the first quarter. Park West Asset Management LLC now owns 3,014,365 shares of the biotechnology company’s stock valued at $8,320,000 after acquiring an additional 301,507 shares during the last quarter. Millennium Management LLC acquired a new position in Anavex Life Sciences in the second quarter valued at $1,749,000. Northern Trust Corp boosted its holdings in Anavex Life Sciences by 6.3% in the first quarter. Northern Trust Corp now owns 449,761 shares of the biotechnology company’s stock valued at $1,241,000 after acquiring an additional 26,595 shares during the last quarter. Paloma Partners Management Co acquired a new position in Anavex Life Sciences in the second quarter valued at $502,000. Finally, Bank of New York Mellon Corp boosted its holdings in Anavex Life Sciences by 60.3% in the fourth quarter. Bank of New York Mellon Corp now owns 177,938 shares of the biotechnology company’s stock valued at $573,000 after acquiring an additional 66,931 shares during the last quarter. Hedge funds and other institutional investors own 22.75% of the company’s stock.

About Anavex Life Sciences

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of Alzheimer's disease, other central nervous system diseases, pain, and various cancers. The company's lead drug candidates include ANAVEX 2-73, which has completed Phase IIa clinical trials for the treatment of Alzheimer's disease; and in preclinical clinical trials to treat Parkinson's disease, epilepsy, Rett syndrome, Angelman syndrome, multiple sclerosis, and Fragile X syndrome.

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