Anavex Life Sciences Corp. (NASDAQ:AVXL) Receives Average Rating of “Hold” from Analysts

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have received a consensus recommendation of “Hold” from the five analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $21.3333.

Several equities research analysts recently commented on the stock. Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences in a research note on Monday, May 4th. They set a “buy” rating and a $20.00 price target on the stock. Weiss Ratings lowered shares of Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, D. Boral Capital reiterated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a research note on Tuesday, March 31st.

Institutional Investors Weigh In On Anavex Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in AVXL. State Street Corp raised its holdings in shares of Anavex Life Sciences by 33.4% in the fourth quarter. State Street Corp now owns 4,383,406 shares of the biotechnology company’s stock valued at $15,605,000 after buying an additional 1,096,288 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Anavex Life Sciences by 17,921.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 744,469 shares of the biotechnology company’s stock valued at $2,650,000 after buying an additional 740,338 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Anavex Life Sciences by 187.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 872,968 shares of the biotechnology company’s stock valued at $3,108,000 after buying an additional 569,579 shares during the last quarter. Summit Financial LLC raised its holdings in shares of Anavex Life Sciences by 103.3% in the fourth quarter. Summit Financial LLC now owns 903,392 shares of the biotechnology company’s stock valued at $3,216,000 after buying an additional 459,121 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Anavex Life Sciences in the fourth quarter valued at about $1,310,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

Anavex Life Sciences Price Performance

Shares of NASDAQ:AVXL opened at $2.62 on Tuesday. The company’s fifty day moving average price is $2.93 and its 200 day moving average price is $3.68. Anavex Life Sciences has a 12 month low of $2.41 and a 12 month high of $13.99. The firm has a market capitalization of $242.80 million, a P/E ratio of -5.70 and a beta of 1.20.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company’s lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer’s disease and Parkinson’s disease dementia.