Anavex Life Sciences Corp. (NASDAQ:AVXL) Receives $33.83 Average Price Target from Brokerages

Anavex Life Sciences Corp. (NASDAQ:AVXL) has received a consensus rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.83.

Several brokerages 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 report on Wednesday, October 13th. BTIG Research restated a “buy” rating and set a $34.00 price target on shares of Anavex Life Sciences in a research report on Thursday, November 25th. Finally, HC Wainwright restated a “buy” rating and set a $39.00 price target on shares of Anavex Life Sciences in a research report on Thursday, October 14th.

Several institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new stake in Anavex Life Sciences during the 2nd quarter worth approximately $25,000. PNC Financial Services Group Inc. purchased a new stake in Anavex Life Sciences during the 2nd quarter worth approximately $46,000. FinTrust Capital Advisors LLC purchased a new stake in Anavex Life Sciences during the 3rd quarter worth approximately $44,000. Point72 Hong Kong Ltd purchased a new stake in Anavex Life Sciences during the 3rd quarter worth approximately $64,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Anavex Life Sciences by 30.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 5,200 shares of the biotechnology company’s stock worth $119,000 after buying an additional 1,200 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ AVXL traded up $0.67 during trading on Friday, hitting $14.39. The company had a trading volume of 1,145,428 shares, compared to its average volume of 1,009,192. The stock has a fifty day simple moving average of $18.57 and a two-hundred day simple moving average of $19.26. Anavex Life Sciences has a fifty-two week low of $5.56 and a fifty-two week high of $31.50. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -27.15 and a beta of 0.57.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Wednesday, November 24th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.15). During the same quarter last year, the business posted ($0.10) earnings per share. Sell-side analysts predict that Anavex Life Sciences will post -0.44 EPS for the current year.

About Anavex Life Sciences

Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome.

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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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