Analysts Set Anavex Life Sciences Corp (AVXL) PT at $8.50

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Anavex Life Sciences Corp (NASDAQ:AVXL) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.50.

AVXL has been the subject of several recent research reports. Maxim Group set a $7.00 target price on shares of Anavex Life Sciences and gave the company a “buy” rating in a report on Friday, October 19th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Anavex Life Sciences in a report on Monday, October 22nd. Finally, Roth Capital assumed coverage on shares of Anavex Life Sciences in a report on Monday, January 28th. They set a “buy” rating and a $10.00 price target for the company.

NASDAQ:AVXL traded up $0.04 during mid-day trading on Monday, hitting $2.39. 477,753 shares of the company’s stock traded hands, compared to its average volume of 144,033. Anavex Life Sciences has a 1 year low of $1.25 and a 1 year high of $4.35. The company has a market capitalization of $112.07 million, a P/E ratio of -6.13 and a beta of 2.41.

Anavex Life Sciences (NASDAQ:AVXL) last posted its earnings results on Thursday, February 7th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). As a group, sell-side analysts predict that Anavex Life Sciences will post -0.46 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of AVXL. Millennium Management LLC purchased a new stake in shares of Anavex Life Sciences during the second quarter worth about $1,749,000. Hikari Power Ltd purchased a new stake in shares of Anavex Life Sciences during the fourth quarter worth about $231,000. Finally, Jane Street Group LLC purchased a new stake in shares of Anavex Life Sciences during the second quarter worth about $157,000. Institutional investors and hedge funds own 17.88% of the company’s stock.

Anavex Life Sciences Company Profile

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 has completed Phase 2a clinical trial for Alzheimer's disease; and preclinical clinical trials to treat Parkinson's disease, Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis.

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