ValuEngine Lowers Anavex Life Sciences Corp. (NASDAQ:AVXL) to Sell

ValuEngine cut shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) from a hold rating to a sell rating in a research report report published on Friday, June 30th.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Anavex Life Sciences Corp. from a hold rating to a buy rating and set a $6.75 price target on the stock in a report on Thursday, June 8th. Maxim Group set a $15.00 price objective on shares of Anavex Life Sciences Corp. and gave the stock a buy rating in a report on Monday, May 22nd. Finally, Noble Financial reiterated a buy rating on shares of Anavex Life Sciences Corp. in a report on Sunday, May 14th. One 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. The stock presently has an average rating of Hold and an average target price of $11.94.

Shares of Anavex Life Sciences Corp. (AVXL) traded down 0.48% on Friday, hitting $4.15. The company had a trading volume of 176,139 shares. The company’s market cap is $171.71 million. The company has a 50 day moving average of $5.22 and a 200-day moving average of $5.45. Anavex Life Sciences Corp. has a 12-month low of $2.43 and a 12-month high of $6.64.

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Several hedge funds and other institutional investors have recently made changes to their positions in AVXL. JPMorgan Chase & Co. bought a new position in shares of Anavex Life Sciences Corp. during the first quarter worth approximately $105,000. Northwest Investment Counselors LLC acquired a new stake in Anavex Life Sciences Corp. during the second quarter worth $106,000. American International Group Inc. boosted its stake in Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock worth $115,000 after buying an additional 1,329 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Anavex Life Sciences Corp. during the fourth quarter worth $151,000. Finally, Bank of America Corp DE boosted its stake in Anavex Life Sciences Corp. by 12.9% in the first quarter. Bank of America Corp DE now owns 39,981 shares of the biotechnology company’s stock worth $229,000 after buying an additional 4,561 shares during the last quarter. 22.83% of the stock is owned by institutional investors and hedge funds.

Anavex Life Sciences Corp. Company Profile

Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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