Stock analysts at StockNews.com began coverage on shares of Anavex Life Sciences (NASDAQ:AVXL – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the biotechnology company’s stock.
A number of other research analysts also recently weighed in on the company. Jonestrading raised their price target on Anavex Life Sciences from $40.00 to $80.00 in a research note on Friday, December 2nd. Cantor Fitzgerald downgraded Anavex Life Sciences from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $11.00 in a research note on Tuesday, December 6th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Anavex Life Sciences in a research note on Monday, February 6th. Finally, BTIG Research reduced their target price on Anavex Life Sciences from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.80.
Anavex Life Sciences Stock Down 0.3 %
AVXL stock opened at $9.51 on Thursday. The business has a 50 day moving average price of $10.29 and a two-hundred day moving average price of $10.31. The company has a market cap of $742.07 million, a price-to-earnings ratio of -14.45 and a beta of 0.75. Anavex Life Sciences has a twelve month low of $7.13 and a twelve month high of $15.24.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Anavex Life Sciences during the 4th quarter worth approximately $274,000. Legal & General Group Plc boosted its stake in Anavex Life Sciences by 3.2% in the 4th quarter. Legal & General Group Plc now owns 36,150 shares of the biotechnology company’s stock valued at $335,000 after purchasing an additional 1,111 shares during the period. Millennium Management LLC boosted its stake in Anavex Life Sciences by 309.9% in the 4th quarter. Millennium Management LLC now owns 833,524 shares of the biotechnology company’s stock valued at $7,718,000 after purchasing an additional 630,156 shares during the period. Morgan Stanley boosted its stake in Anavex Life Sciences by 75.8% in the 4th quarter. Morgan Stanley now owns 383,483 shares of the biotechnology company’s stock valued at $3,551,000 after purchasing an additional 165,312 shares during the period. Finally, E Fund Management Co. Ltd. boosted its stake in Anavex Life Sciences by 29.5% in the 4th quarter. E Fund Management Co. Ltd. now owns 24,362 shares of the biotechnology company’s stock valued at $226,000 after purchasing an additional 5,547 shares during the period. 31.22% of the stock is currently owned by institutional investors.
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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