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

Anavex Life Sciences Corp. (NASDAQ:AVXL) has been given a consensus recommendation of “Hold” by the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $21.3333.

Separately, Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th.

Anavex Life Sciences Price Performance

NASDAQ:AVXL opened at $2.86 on Friday. The firm has a market capitalization of $265.12 million, a P/E ratio of -19.07 and a beta of 1.14. Anavex Life Sciences has a one year low of $2.26 and a one year high of $10.40. The company’s 50-day simple moving average is $2.86 and its 200 day simple moving average is $3.20.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Tuesday, August 25th. The biotechnology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.16.

Institutional Investors Weigh In On Anavex Life Sciences

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in shares of Anavex Life Sciences by 988.8% in the 1st quarter. Renaissance Technologies LLC now owns 276,800 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 251,378 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Anavex Life Sciences by 17,921.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 744,469 shares of the biotechnology company’s stock worth $2,650,000 after purchasing an additional 740,338 shares in the last quarter. Bank of America Corp DE grew its position in Anavex Life Sciences by 64.7% during the 1st quarter. Bank of America Corp DE now owns 863,150 shares of the biotechnology company’s stock valued at $2,650,000 after purchasing an additional 338,961 shares during the last quarter. Advisory Alpha LLC purchased a new stake in Anavex Life Sciences during the 4th quarter valued at about $44,000. Finally, Aigen Investment Management LP bought a new stake in Anavex Life Sciences during the 4th quarter valued at about $44,000. 31.55% of the stock is owned by hedge funds and other institutional investors.

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.