Anavex Life Sciences (AVXL) Upgraded at Zacks Investment Research

Anavex Life Sciences (NASDAQ:AVXL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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. “

AVXL has been the subject of a number of other reports. Maxim Group set a $7.00 target price on shares of Anavex Life Sciences and gave the company a “buy” rating in a research note on Thursday, December 13th. Roth Capital set a $10.00 target price on shares of Anavex Life Sciences and gave the company a “buy” rating in a research note on Friday, February 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Anavex Life Sciences presently has a consensus rating of “Buy” and an average target price of $7.40.

Anavex Life Sciences stock traded up $0.03 during midday trading on Wednesday, reaching $2.78. 303,279 shares of the stock traded hands, compared to its average volume of 305,421. The firm has a market capitalization of $133.89 million, a price-to-earnings ratio of -7.13 and a beta of 2.54. Anavex Life Sciences has a fifty-two week low of $1.25 and a fifty-two week high of $4.35.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Thursday, February 7th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Research analysts anticipate that Anavex Life Sciences will post -0.48 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the business. Park West Asset Management LLC raised its position in shares of Anavex Life Sciences by 1.6% during the 4th quarter. Park West Asset Management LLC now owns 3,495,615 shares of the biotechnology company’s stock worth $5,453,000 after buying an additional 53,450 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Anavex Life Sciences by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 291,948 shares of the biotechnology company’s stock worth $455,000 after buying an additional 3,687 shares in the last quarter. Hikari Power Ltd bought a new stake in shares of Anavex Life Sciences during the 4th quarter worth about $231,000. Tibra Equities Europe Ltd bought a new stake in shares of Anavex Life Sciences during the 1st quarter worth about $258,000. Finally, Deutsche Bank AG bought a new stake in shares of Anavex Life Sciences during the 4th quarter worth about $28,000. Institutional investors own 14.12% 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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