Anavex Life Sciences (NASDAQ:AVXL) Upgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Anavex Life Sciences (NASDAQ:AVXL) from a sell rating to a hold rating in a research note published on Monday, Zacks.com reports. They currently have $3.75 price target on the biotechnology company’s stock.

According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “

Several other research analysts have also commented on the company. ValuEngine upgraded Vistra Energy from a hold rating to a buy rating in a research report on Wednesday, July 3rd. Janney Montgomery Scott began coverage on Neurotrope in a research report on Tuesday, June 18th. They issued a buy rating and a $14.00 target price for the company. Finally, Roth Capital reiterated a buy rating on shares of Resverlogix in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $8.15.

AVXL stock opened at $3.21 on Monday. Anavex Life Sciences has a 52-week low of $1.25 and a 52-week high of $4.09. The business’s 50 day simple moving average is $3.24.

Anavex Life Sciences (NASDAQ:AVXL) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. As a group, equities analysts anticipate that Anavex Life Sciences will post -0.68 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of AVXL. Wedbush Securities Inc. acquired a new position in Anavex Life Sciences during the 1st quarter valued at approximately $43,000. Deutsche Bank AG acquired a new position in Anavex Life Sciences during the 4th quarter valued at approximately $28,000. Edge Wealth Management LLC boosted its position in Anavex Life Sciences by 200.0% during the 1st 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. AllSquare Wealth Management LLC boosted its position in Anavex Life Sciences by 98.3% during the 1st quarter. AllSquare Wealth Management LLC now owns 32,390 shares of the biotechnology company’s stock valued at $99,000 after purchasing an additional 16,060 shares during the period. Finally, Virtu Financial LLC acquired a new position in Anavex Life Sciences during the 1st quarter valued at approximately $152,000. Institutional investors own 14.62% of the company’s stock.

About Anavex Life Sciences

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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