Anavex Life Sciences Corp. (NASDAQ:AVXL) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Anavex Life Sciences, with three buys, one hold and one sell among five covering firms. The average 12-month price target is $21.33.
• AVXL shares opened at $3.51, compared with a 52-week range of $2.26 to $11.70, while the company reported a quarterly loss of $0.06 per share—$0.01 better than analysts expected.
• Institutional investors own approximately 31.55% of the stock. Anavex is a clinical-stage biotechnology company developing blarcamesine for diseases including Alzheimer’s and Parkinson’s disease dementia.

Anavex Life Sciences Corp. (NASDAQ:AVXL - Get Free Report) has been given a consensus rating of "Hold" by the five research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $21.3333.

A number of equities research analysts have recently commented on AVXL shares. Rodman & Renshaw started coverage on Anavex Life Sciences in a research report on Monday, May 4th. They issued a "buy" rating and a $20.00 price objective for the company. Weiss Ratings lowered Anavex Life Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, June 11th.

Anavex Life Sciences Stock Performance

Shares of NASDAQ AVXL opened at $3.51 on Wednesday. The firm has a market cap of $325.27 million, a P/E ratio of -9.00 and a beta of 1.15. Anavex Life Sciences has a 1 year low of $2.26 and a 1 year high of $11.70. The firm's 50 day moving average price is $2.67 and its 200 day moving average price is $3.36.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. As a group, equities analysts predict that Anavex Life Sciences will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its holdings in Anavex Life Sciences by 1.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 85,990 shares of the biotechnology company's stock valued at $793,000 after purchasing an additional 1,233 shares in the last quarter. State of Wyoming acquired a new position in shares of Anavex Life Sciences during the second quarter worth about $26,000. Opus Capital Group LLC boosted its position in shares of Anavex Life Sciences by 8.6% in the fourth quarter. Opus Capital Group LLC now owns 37,700 shares of the biotechnology company's stock worth $134,000 after buying an additional 3,000 shares during the period. Delta Asset Management LLC TN boosted its position in shares of Anavex Life Sciences by 23.1% in the fourth quarter. Delta Asset Management LLC TN now owns 16,000 shares of the biotechnology company's stock worth $57,000 after buying an additional 3,000 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Anavex Life Sciences by 9.9% in the third quarter. BNP Paribas Financial Markets now owns 33,779 shares of the biotechnology company's stock valued at $301,000 after buying an additional 3,035 shares in the last quarter. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

About Anavex Life Sciences

Anavex Life Sciences Corp is a clinical‐stage biopharmaceutical company focused on the development of novel therapeutics for central nervous system (CNS) disorders. The company applies a proprietary drug discovery platform that targets sigma‐1 and muscarinic receptors to modulate cellular stress pathways and support neuronal function. Headquartered in New York City, Anavex is dedicated to advancing treatments for neurodegenerative and neurodevelopmental diseases with high unmet medical need.

The company's lead product candidate, blarcamesine (ANAVEX2‐73), is a small‐molecule activator of the sigma‐1 receptor currently being evaluated in clinical trials for Alzheimer's disease and Parkinson's disease dementia.

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