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

Anavex Life Sciences Corp. (NASDAQ:AVXL) has been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.3333.

Several equities research analysts have commented on AVXL shares. Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. D. Boral Capital restated a “buy” rating and set a $24.00 price target on shares of Anavex Life Sciences in a report on Tuesday, March 31st. Finally, Rodman & Renshaw initiated coverage on Anavex Life Sciences in a research report on Monday, May 4th. They issued a “buy” rating and a $20.00 price target for the company.

Anavex Life Sciences Stock Up 2.1%

Anavex Life Sciences stock opened at $2.39 on Friday. Anavex Life Sciences has a twelve month low of $2.26 and a twelve month high of $13.99. The company has a market capitalization of $221.48 million, a P/E ratio of -5.20 and a beta of 1.14. The stock’s 50 day moving average is $2.68 and its 200 day moving average is $3.54.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AVXL. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $2,650,000 after purchasing an additional 740,338 shares during the last quarter. Advisory Alpha LLC purchased a new stake in shares of Anavex Life Sciences during the fourth quarter valued at $44,000. PVG Asset Management Corp increased its holdings in Anavex Life Sciences by 62.4% in the 4th quarter. PVG Asset Management Corp now owns 216,295 shares of the biotechnology company’s stock worth $770,000 after buying an additional 83,147 shares in the last quarter. Opus Capital Group LLC increased its holdings in Anavex Life Sciences by 8.6% in the 4th quarter. Opus Capital Group LLC now owns 37,700 shares of the biotechnology company’s stock worth $134,000 after buying an additional 3,000 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Anavex Life Sciences by 13.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 48,200 shares of the biotechnology company’s stock worth $172,000 after buying an additional 5,800 shares during the last quarter. Institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Company Profile

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.