Anavex Life Sciences (AVXL) Given a $10.00 Price Target at HC Wainwright

Anavex Life Sciences (NASDAQ:AVXL) has been assigned a $10.00 target price by analysts at HC Wainwright in a report released on Friday. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 264.96% from the stock’s current price.

AVXL has been the topic of a number of other reports. Maxim Group started coverage on Anavex Life Sciences in a research report on Wednesday, May 16th. They set a “buy” rating and a $7.00 target price on the stock. Zacks Investment Research raised Anavex Life Sciences from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Wednesday, May 16th. ValuEngine raised Anavex Life Sciences from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Noble Financial set a $7.00 price target on Anavex Life Sciences and gave the company a “buy” rating in a research report on Wednesday, May 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.55.

Shares of Anavex Life Sciences traded down $0.09, reaching $2.74, during trading on Friday, Marketbeat.com reports. 311,043 shares of the stock were exchanged, compared to its average volume of 314,389. Anavex Life Sciences has a 1-year low of $1.85 and a 1-year high of $5.15.

Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Thursday, August 9th. The biotechnology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. equities analysts predict that Anavex Life Sciences will post -0.39 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in Anavex Life Sciences by 6.3% in the 1st quarter. Northern Trust Corp now owns 449,761 shares of the biotechnology company’s stock valued at $1,241,000 after buying an additional 26,595 shares during the last quarter. Millennium Management LLC raised its position in Anavex Life Sciences by 95.2% in the 4th quarter. Millennium Management LLC now owns 44,895 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 21,895 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Anavex Life Sciences by 48.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 76,200 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 25,000 shares during the last quarter. Park West Asset Management LLC raised its position in Anavex Life Sciences by 11.1% in the 1st quarter. Park West Asset Management LLC now owns 3,014,365 shares of the biotechnology company’s stock valued at $8,320,000 after buying an additional 301,507 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Anavex Life Sciences by 60.3% in the 4th quarter. Bank of New York Mellon Corp now owns 177,938 shares of the biotechnology company’s stock valued at $573,000 after buying an additional 66,931 shares during the last quarter. 22.90% of the stock is owned by institutional investors and hedge funds.

About Anavex Life Sciences

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of Alzheimer's disease, other central nervous system diseases, pain, and various cancers. The company's lead drug candidates include ANAVEX 2-73, which has completed Phase IIa clinical trials for the treatment of Alzheimer's disease; and in preclinical clinical trials to treat Parkinson's disease, epilepsy, Rett syndrome, Angelman syndrome, multiple sclerosis, and Fragile X syndrome.

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