Anavex Life Sciences (NASDAQ:AVXL) Coverage Initiated by Analysts at Rodman & Renshaw

Key Points

• Analysts at Rodman & Renshaw initiated coverage on Anavex Life Sciences with a “buy” rating and a $20 price target; the stock's analyst mix is mixed (three Buy, one Hold, one Sell) with a consensus price target of $21.33.
• Despite those targets, shares trade near $3.32 (52-week range $2.61–$13.99) with a market cap of about $307.7M and negative EPS, while the company remains a clinical‑stage biopharma whose lead candidate, blarcamesine (ANAVEX2‑73), is in trials for Alzheimer’s and Parkinson’s disease dementia.

Equities research analysts at Rodman & Renshaw assumed coverage on shares of Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) in a research note issued on Monday. The firm set a "buy" rating and a $20.00 price target on the biotechnology company's stock.

AVXL has been the subject of a number of other research reports. D. Boral Capital restated a "buy" rating and set a $24.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, March 31st. HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Anavex Life Sciences in a report on Tuesday, February 10th. Wall Street Zen upgraded shares of Anavex Life Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, February 14th. Finally, Weiss Ratings upgraded shares of Anavex Life Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.33.

Anavex Life Sciences Stock Performance

NASDAQ AVXL opened at $3.32 on Monday. Anavex Life Sciences has a 52-week low of $2.61 and a 52-week high of $13.99. The company has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $4.61. The company has a market capitalization of $307.66 million, a PE ratio of -7.22 and a beta of 1.24.

Anavex Life Sciences (NASDAQ:AVXL - Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. As a group, analysts forecast that Anavex Life Sciences will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Anavex Life Sciences

Large investors have recently modified their holdings of the business. October Effect Ltd boosted its position in shares of Anavex Life Sciences by 110.4% in the third quarter. October Effect Ltd now owns 245,221 shares of the biotechnology company's stock valued at $2,182,000 after acquiring an additional 128,675 shares during the period. State of Wyoming bought a new position in shares of Anavex Life Sciences in the second quarter valued at approximately $26,000. Hsbc Holdings PLC boosted its position in shares of Anavex Life Sciences by 274.7% in the first quarter. Hsbc Holdings PLC now owns 107,856 shares of the biotechnology company's stock valued at $330,000 after acquiring an additional 79,072 shares during the period. Apella Capital LLC boosted its position in shares of Anavex Life Sciences by 10.9% in the first quarter. Apella Capital LLC now owns 153,006 shares of the biotechnology company's stock valued at $470,000 after acquiring an additional 15,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Anavex Life Sciences by 48.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,947 shares of the biotechnology company's stock valued at $231,000 after acquiring an additional 21,132 shares during the period. Hedge funds and other institutional investors own 31.55% of the company's stock.

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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