Anavex Life Sciences Corp. (NASDAQ:AVXL) Given Average Recommendation of “Buy” by Brokerages

Anavex Life Sciences Corp. (NASDAQ:AVXL) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $33.83.

A number of brokerages recently weighed in on AVXL. HC Wainwright reissued a “buy” rating and issued a $39.00 price objective on shares of Anavex Life Sciences in a research note on Thursday, October 14th. Zacks Investment Research raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, October 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $34.00 target price on shares of Anavex Life Sciences in a research report on Thursday.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Anavex Life Sciences by 5.6% in the 1st quarter. Bank of New York Mellon Corp now owns 204,823 shares of the biotechnology company’s stock valued at $3,062,000 after purchasing an additional 10,772 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Anavex Life Sciences in the 1st quarter valued at $156,000. Goldman Sachs Group Inc. grew its holdings in shares of Anavex Life Sciences by 294.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 135,872 shares of the biotechnology company’s stock worth $2,031,000 after purchasing an additional 101,457 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Anavex Life Sciences by 24.7% during the 1st quarter. Nuveen Asset Management LLC now owns 251,607 shares of the biotechnology company’s stock valued at $3,762,000 after purchasing an additional 49,915 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Anavex Life Sciences by 36.1% during the 1st quarter. Ameriprise Financial Inc. now owns 93,125 shares of the biotechnology company’s stock worth $1,393,000 after acquiring an additional 24,725 shares during the last quarter. Hedge funds and other institutional investors own 28.86% of the company’s stock.

Shares of Anavex Life Sciences stock traded up $1.02 during trading on Thursday, hitting $18.99. 1,391,200 shares of the stock traded hands, compared to its average volume of 2,249,869. The stock has a market cap of $1.44 billion, a P/E ratio of -39.56 and a beta of 0.68. The company has a fifty day moving average price of $19.02 and a two-hundred day moving average price of $18.77. Anavex Life Sciences has a twelve month low of $4.51 and a twelve month high of $31.50.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings results on Tuesday, November 23rd. The biotechnology company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). During the same quarter in the prior year, the company posted ($0.10) EPS. As a group, analysts forecast that Anavex Life Sciences will post -0.52 earnings per share for the current fiscal year.

Anavex Life Sciences Company Profile

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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