HC Wainwright set a $10.00 price target on Anavex Life Sciences (NASDAQ:AVXL) in a research report report published on Wednesday. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other analysts have also recently issued reports about the stock. Maxim Group started coverage on shares of Anavex Life Sciences in a report on Monday, July 9th. They set a buy rating and a $7.00 target price on the stock. Zacks Investment Research raised shares of Anavex Life Sciences from a hold rating to a buy rating and set a $3.00 price objective on the stock in a report on Tuesday, August 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Anavex Life Sciences currently has an average rating of Buy and a consensus target price of $6.60.
Shares of NASDAQ:AVXL opened at $2.55 on Wednesday. Anavex Life Sciences has a 1-year low of $1.85 and a 1-year high of $4.50.
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 the Zacks’ consensus estimate of ($0.10) by $0.04. Sell-side analysts expect that Anavex Life Sciences will post -0.42 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in AVXL. Millennium Management LLC acquired a new stake in shares of Anavex Life Sciences in the 2nd quarter worth about $1,749,000. Paloma Partners Management Co acquired a new stake in shares of Anavex Life Sciences in the 2nd quarter worth about $502,000. LMR Partners LLP acquired a new stake in shares of Anavex Life Sciences in the 2nd quarter worth about $319,000. Jane Street Group LLC acquired a new stake in shares of Anavex Life Sciences in the 2nd quarter worth about $157,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Anavex Life Sciences in the 2nd quarter worth about $134,000. 20.01% of the stock is currently 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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