Anavex Life Sciences (NASDAQ:AVXL) had its target price boosted by analysts at Cantor Fitzgerald from $10.00 to $25.00 in a report released on Tuesday, The Fly reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 107.13% from the stock’s previous close.
Several other brokerages have also recently issued reports on AVXL. HC Wainwright raised their target price on shares of Anavex Life Sciences from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, December 16th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $20.00 price target on shares of Anavex Life Sciences in a report on Wednesday, February 17th. Finally, Zacks Investment Research cut shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a report on Friday, February 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Anavex Life Sciences currently has an average rating of “Buy” and a consensus target price of $15.71.
AVXL stock opened at $12.07 on Tuesday. The company has a market capitalization of $838.72 million, a PE ratio of -26.82 and a beta of 0.70. Anavex Life Sciences has a one year low of $2.20 and a one year high of $28.70. The company’s 50 day moving average price is $8.76 and its two-hundred day moving average price is $5.82.
Anavex Life Sciences (NASDAQ:AVXL) last issued its earnings results on Wednesday, February 10th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). As a group, equities analysts forecast that Anavex Life Sciences will post -0.46 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. BNC Wealth Management LLC bought a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at $25,000. Opus Capital Group LLC bought a new stake in shares of Anavex Life Sciences during the 3rd quarter valued at $46,000. Citigroup Inc. boosted its holdings in shares of Anavex Life Sciences by 299.4% during the 4th quarter. Citigroup Inc. now owns 10,070 shares of the biotechnology company’s stock valued at $54,000 after buying an additional 7,549 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Anavex Life Sciences during the 4th quarter valued at $59,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Anavex Life Sciences during the 4th quarter valued at $62,000. Institutional investors and hedge funds own 18.92% 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 (CNS) diseases. Its lead drug candidate is ANAVEX 2-73, which is in Phase III clinical trial for the treatment of Alzheimer's disease; Phase III clinical trial to treat pediatric patients with Rett syndrome; Phase II clinical trial for the treatment of Parkinson's disease; and preclinical clinical trials to treat epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis complex.
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