Anavex Life Sciences Corp (AVXL) Given Average Rating of “Buy” by Analysts

Anavex Life Sciences Corp (NASDAQ:AVXL) has been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $8.50.

A number of research firms have recently issued reports on AVXL. Zacks Investment Research upgraded shares of Anavex Life Sciences from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Roth Capital set a $10.00 price objective on shares of Anavex Life Sciences and gave the company a “buy” rating in a research note on Friday, February 8th.

Shares of AVXL traded down $0.01 during mid-day trading on Friday, reaching $2.94. 164,116 shares of the stock traded hands, compared to its average volume of 306,741. The firm has a market capitalization of $139.59 million, a P/E ratio of -7.54 and a beta of 2.55. Anavex Life Sciences has a 12-month low of $1.25 and a 12-month high of $4.35.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data on Thursday, February 7th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). As a group, analysts forecast that Anavex Life Sciences will post -0.48 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wedbush Securities Inc. purchased a new stake in shares of Anavex Life Sciences during the first quarter valued at approximately $43,000. Deutsche Bank AG purchased a new stake in shares of Anavex Life Sciences during the fourth quarter valued at approximately $28,000. Edge Wealth Management LLC raised its stake in shares of Anavex Life Sciences by 200.0% during the first quarter. Edge Wealth Management LLC now owns 30,000 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 20,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Anavex Life Sciences in the first quarter worth $152,000. Finally, Tibra Equities Europe Ltd bought a new stake in shares of Anavex Life Sciences in the first quarter worth $258,000. Institutional investors own 14.44% of the company’s stock.

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 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.

Further Reading: What Are Cryptocurrencies?

Receive News & Ratings for Anavex Life Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Anavex Life Sciences and related companies with MarketBeat.com's FREE daily email newsletter.