Anavex Life Sciences (NASDAQ:AVXL) Upgraded to “Buy” by ValuEngine

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ValuEngine upgraded shares of Anavex Life Sciences (NASDAQ:AVXL) from a hold rating to a buy rating in a research note issued to investors on Monday morning, ValuEngine reports.

A number of other equities research analysts have also weighed in on AVXL. Roth Capital reiterated a buy rating on shares of Anavex Life Sciences in a research note on Thursday, May 23rd. Zacks Investment Research upgraded shares of Anavex Life Sciences from a sell rating to a hold rating and set a $3.75 target price for the company in a research note on Monday, July 8th. Janney Montgomery Scott began coverage on shares of Anavex Life Sciences in a research note on Tuesday, June 18th. They set a buy rating and a $10.00 target price for the company. Finally, Dawson James began coverage on shares of Anavex Life Sciences in a research note on Wednesday, July 24th. They set a buy rating and a $16.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $9.46.

Shares of AVXL opened at $3.31 on Monday. The firm has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $2.97. Anavex Life Sciences has a 1-year low of $1.25 and a 1-year high of $4.09.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Sell-side analysts expect that Anavex Life Sciences will post -0.62 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in shares of Anavex Life Sciences in the 2nd quarter worth $38,000. Deutsche Bank AG purchased a new stake in shares of Anavex Life Sciences in the 4th quarter worth $28,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Anavex Life Sciences in the 2nd quarter worth $120,000. Charles Schwab Investment Management Inc. increased its stake in shares of Anavex Life Sciences by 562.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 105,179 shares of the biotechnology company’s stock worth $355,000 after purchasing an additional 89,305 shares in the last quarter. Finally, B. Riley Financial Inc. purchased a new stake in shares of Anavex Life Sciences in the 1st quarter worth $351,000. Hedge funds and other institutional investors own 22.34% 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.

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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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