Anavex Life Sciences Corp. (AVXL) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) from a hold rating to a buy rating in a research report report published on Monday. Zacks Investment Research currently has $5.00 target price on the biotechnology company’s stock.

According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “

AVXL has been the topic of several other reports. Maxim Group set a $15.00 price target on Anavex Life Sciences Corp. and gave the stock a buy rating in a research report on Monday, August 7th. ValuEngine lowered Anavex Life Sciences Corp. from a hold rating to a sell rating in a research report on Friday, June 30th. Finally, Noble Financial reissued a buy rating on shares of Anavex Life Sciences Corp. in a research report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $11.50.

Shares of Anavex Life Sciences Corp. (NASDAQ AVXL) opened at 4.10 on Monday. The company has a 50-day moving average of $4.52 and a 200 day moving average of $4.52. The firm’s market cap is $172.91 million. Anavex Life Sciences Corp. has a one year low of $2.43 and a one year high of $6.30.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). On average, equities research analysts expect that Anavex Life Sciences Corp. will post ($0.38) EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. raised its position in shares of Anavex Life Sciences Corp. by 7.1% in the 1st quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 1,329 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Anavex Life Sciences Corp. by 5.7% in the 2nd quarter. Teachers Advisors LLC now owns 67,746 shares of the biotechnology company’s stock valued at $360,000 after purchasing an additional 3,681 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Anavex Life Sciences Corp. by 12.1% in the 2nd quarter. Wells Fargo & Company MN now owns 40,385 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 4,347 shares in the last quarter. Bank of America Corp DE raised its position in shares of Anavex Life Sciences Corp. by 12.9% in the 1st quarter. Bank of America Corp DE now owns 39,981 shares of the biotechnology company’s stock valued at $229,000 after purchasing an additional 4,561 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Anavex Life Sciences Corp. by 14.8% in the 2nd quarter. Rhumbline Advisers now owns 40,342 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 5,205 shares in the last quarter. 24.41% of the stock is currently owned by institutional investors.

About Anavex Life Sciences Corp.

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.

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