Brokerages Set Anavex Life Sciences Corp (NASDAQ:AVXL) Price Target at $9.63

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Anavex Life Sciences Corp (NASDAQ:AVXL) has been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.63.

Several equities research analysts have commented on the stock. Dawson James restated a “buy” rating and set a $16.00 target price on shares of Anavex Life Sciences in a research report on Monday, June 8th. HC Wainwright reiterated a “buy” rating on shares of Anavex Life Sciences in a research report on Tuesday, August 11th. Cantor Fitzgerald reissued a “buy” rating and issued a $8.00 price objective on shares of Anavex Life Sciences in a research note on Monday, June 8th. Janney Montgomery Scott reissued a “buy” rating and issued a $10.00 price objective on shares of Anavex Life Sciences in a research note on Monday, June 8th. Finally, Zacks Investment Research raised shares of Anavex Life Sciences from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Wednesday, August 12th.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Anavex Life Sciences by 10.7% during the 1st quarter. BlackRock Inc. now owns 3,297,030 shares of the biotechnology company’s stock worth $10,386,000 after purchasing an additional 319,817 shares during the last quarter. State Street Corp boosted its stake in shares of Anavex Life Sciences by 1.8% during the 1st quarter. State Street Corp now owns 822,777 shares of the biotechnology company’s stock worth $2,592,000 after purchasing an additional 14,767 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Anavex Life Sciences by 17.0% during the 1st quarter. Geode Capital Management LLC now owns 717,581 shares of the biotechnology company’s stock worth $2,260,000 after purchasing an additional 104,462 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Anavex Life Sciences during the 1st quarter worth about $757,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Anavex Life Sciences by 92.1% during the 1st quarter. Nuveen Asset Management LLC now owns 211,690 shares of the biotechnology company’s stock worth $667,000 after purchasing an additional 101,495 shares during the last quarter. 19.83% of the stock is currently owned by institutional investors.

Shares of NASDAQ AVXL traded down $0.18 during trading on Tuesday, hitting $3.81. 376,400 shares of the company were exchanged, compared to its average volume of 517,448. The company has a market cap of $229.03 million, a price-to-earnings ratio of -9.07 and a beta of 1.63. Anavex Life Sciences has a 1 year low of $2.20 and a 1 year high of $6.31. The firm’s fifty day moving average price is $4.29 and its 200 day moving average price is $3.96.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. As a group, sell-side analysts forecast that Anavex Life Sciences will post -0.5 earnings per share for the current year.

Anavex Life Sciences Company Profile

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 is in Phase III clinical trial for the treatment of Alzheimer's disease; Phase II clinical trials to treat Parkinson's disease; and preclinical clinical trials to treat Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis complex.

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