Anavex Life Sciences (AVXL) Given a $5.00 Price Target at Maxim Group

Maxim Group set a $5.00 price target on Anavex Life Sciences (NASDAQ:AVXL) in a research report released on Wednesday. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the stock. Noble Financial reaffirmed a buy rating on shares of Anavex Life Sciences in a report on Tuesday, December 12th. ValuEngine cut shares of Anavex Life Sciences from a hold rating to a sell rating in a report on Tuesday, November 21st.

Anavex Life Sciences (AVXL) traded up $0.02 during mid-day trading on Wednesday, reaching $2.56. 223,100 shares of the company’s stock were exchanged, compared to its average volume of 323,922. Anavex Life Sciences has a 12 month low of $2.45 and a 12 month high of $6.49. The firm has a market capitalization of $113.22, a PE ratio of -7.65 and a beta of 0.89.

Anavex Life Sciences (NASDAQ:AVXL) last announced its earnings results on Monday, December 11th. The biotechnology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). sell-side analysts predict that Anavex Life Sciences will post -0.44 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in AVXL. Millennium Management LLC increased its holdings in shares of Anavex Life Sciences by 95.2% in the 4th quarter. Millennium Management LLC now owns 44,895 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 21,895 shares during the period. Alliancebernstein L.P. acquired a new position in shares of Anavex Life Sciences in the 2nd quarter valued at $158,000. The Manufacturers Life Insurance Company increased its holdings in shares of Anavex Life Sciences by 37.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,876 shares of the biotechnology company’s stock valued at $169,000 after acquiring an additional 8,728 shares during the period. Virtu KCG Holdings LLC purchased a new position in Anavex Life Sciences in the 2nd quarter valued at $186,000. Finally, Wells Fargo & Company MN grew its position in Anavex Life Sciences by 12.1% in the 2nd quarter. Wells Fargo & Company MN now owns 40,385 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 4,347 shares during the last quarter. 22.63% of the stock is currently owned by institutional investors and hedge funds.

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About Anavex Life Sciences

Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.

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