Anavex Life Sciences (NASDAQ:AVXL) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Anavex Life Sciences (NASDAQ:AVXL) from a hold rating to a buy rating in a research report sent to investors on Wednesday, BidAskClub reports.

Several other research firms have also weighed in on AVXL. LADENBURG THALM/SH SH assumed coverage on shares of Anavex Life Sciences in a research note on Monday, September 28th. They set a buy rating and a $12.00 price objective on the stock. HC Wainwright boosted their price objective on shares of Anavex Life Sciences from $12.00 to $14.00 and gave the stock a buy rating in a research note on Wednesday, October 21st. Finally, Zacks Investment Research lowered shares of Anavex Life Sciences from a buy rating to a hold rating in a research note on Wednesday, October 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $10.75.

Shares of Anavex Life Sciences stock opened at $5.60 on Wednesday. The firm has a market cap of $336.77 million, a P/E ratio of -13.32 and a beta of 1.59. The firm has a 50 day simple moving average of $4.45 and a 200 day simple moving average of $4.19. Anavex Life Sciences has a fifty-two week low of $2.20 and a fifty-two week high of $6.31.

Anavex Life Sciences (NASDAQ:AVXL) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Equities analysts anticipate that Anavex Life Sciences will post -0.51 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in Anavex Life Sciences by 4.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 126,184 shares of the biotechnology company’s stock valued at $621,000 after buying an additional 5,647 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Anavex Life Sciences by 75.2% in the 2nd quarter. AQR Capital Management LLC now owns 36,015 shares of the biotechnology company’s stock valued at $177,000 after purchasing an additional 15,456 shares during the period. Bank of America Corp DE boosted its holdings in Anavex Life Sciences by 863.0% in the 2nd quarter. Bank of America Corp DE now owns 23,392 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 20,963 shares during the period. Bank of Montreal Can boosted its holdings in Anavex Life Sciences by 203.9% in the 2nd quarter. Bank of Montreal Can now owns 6,078 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 4,078 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Anavex Life Sciences by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 163,230 shares of the biotechnology company’s stock valued at $803,000 after purchasing an additional 3,168 shares during the period. Institutional investors and hedge funds own 19.83% of the company’s stock.

About Anavex Life Sciences

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of central nervous system diseases. The company's lead drug candidate is ANAVEX 2-73, which is in Phase III clinical trial for the treatment of Alzheimer's disease; Phase II clinical trials to treat Parkinson's disease; and preclinical clinical trials to treat Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis complex.

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Analyst Recommendations for Anavex Life Sciences (NASDAQ:AVXL)

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