Zacks: Anavex Life Sciences Corp. (AVXL) Given Average Rating of “Strong Buy” by Analysts

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus target price of $15.00 for the company and are expecting that the company will post ($0.10) earnings per share for the current quarter, according to Zacks. Zacks has also given Anavex Life Sciences an industry rank of 104 out of 265 based on the ratings given to its competitors.

AVXL has been the subject of several research analyst reports. Zacks Investment Research raised Anavex Life Sciences from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Tuesday, September 26th. Noble Financial restated a “buy” rating on shares of Anavex Life Sciences in a report on Wednesday, August 9th. Finally, Maxim Group set a $15.00 target price on Anavex Life Sciences and gave the stock a “buy” rating in a report on Monday, August 7th.

Several large investors have recently bought and sold shares of AVXL. American International Group Inc. increased its stake in shares of Anavex Life Sciences by 7.1% in the 1st quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 1,329 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Anavex Life Sciences by 13.1% during the 1st quarter. Vanguard Group Inc. now owns 1,485,681 shares of the biotechnology company’s stock valued at $8,528,000 after purchasing an additional 171,577 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Anavex Life Sciences by 16.8% during the 1st quarter. Geode Capital Management LLC now owns 276,974 shares of the biotechnology company’s stock valued at $1,589,000 after purchasing an additional 39,934 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Anavex Life Sciences by 12.9% during 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 during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Anavex Life Sciences by 14.8% during 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 during the last quarter. Hedge funds and other institutional investors own 23.88% of the company’s stock.

Anavex Life Sciences (NASDAQ:AVXL) traded down $0.16 during trading hours on Tuesday, reaching $3.58. The company had a trading volume of 282,200 shares, compared to its average volume of 405,227. Anavex Life Sciences has a 12 month low of $3.33 and a 12 month high of $6.64.

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About Anavex Life Sciences

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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