Anavex Life Sciences Corp. (NASDAQ:AVXL) Receives $21.33 Average Target Price from Analysts

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have earned an average recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.3333.

Several research firms have commented on AVXL. D. Boral Capital reiterated a “buy” rating and issued a $24.00 price objective on shares of Anavex Life Sciences in a research note on Tuesday, March 31st. Weiss Ratings downgraded Anavex Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Rodman & Renshaw initiated coverage on Anavex Life Sciences in a report on Monday, May 4th. They issued a “buy” rating and a $20.00 target price for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in Anavex Life Sciences by 33.4% during the fourth quarter. State Street Corp now owns 4,383,406 shares of the biotechnology company’s stock valued at $15,605,000 after buying an additional 1,096,288 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Anavex Life Sciences by 17,921.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 744,469 shares of the biotechnology company’s stock worth $2,650,000 after buying an additional 740,338 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Anavex Life Sciences by 187.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 872,968 shares of the biotechnology company’s stock worth $3,108,000 after acquiring an additional 569,579 shares during the period. Summit Financial LLC raised its position in Anavex Life Sciences by 103.3% in the fourth quarter. Summit Financial LLC now owns 903,392 shares of the biotechnology company’s stock worth $3,216,000 after acquiring an additional 459,121 shares during the period. Finally, Federated Hermes Inc. purchased a new position in Anavex Life Sciences in the fourth quarter valued at about $1,310,000. Institutional investors own 31.55% of the company’s stock.

Anavex Life Sciences Price Performance

Shares of AVXL stock opened at $2.42 on Friday. The firm has a 50-day moving average of $2.67 and a 200-day moving average of $3.53. Anavex Life Sciences has a one year low of $2.26 and a one year high of $13.99. The company has a market cap of $224.26 million, a P/E ratio of -5.26 and a beta of 1.14.

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.