Anavex Life Sciences Corp (NASDAQ:AVXL)’s stock price rose 5.6% during mid-day trading on Monday . The stock traded as high as $2.82 and last traded at $2.81, approximately 153,283 shares changed hands during trading. A decline of 22% from the average daily volume of 197,562 shares. The stock had previously closed at $2.66.
AVXL has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Anavex Life Sciences from a “sell” rating to a “hold” rating and set a $3.75 price objective on the stock in a report on Monday, July 8th. Janney Montgomery Scott started coverage on Anavex Life Sciences in a report on Tuesday, June 18th. They issued a “buy” rating and a $10.00 price target for the company. Dawson James assumed coverage on Anavex Life Sciences in a report on Wednesday, July 24th. They issued a “buy” rating and a $16.00 price target for the company. ValuEngine lowered shares of Anavex Life Sciences from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd. Finally, Roth Capital reissued a “buy” rating on shares of Anavex Life Sciences in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Anavex Life Sciences presently has an average rating of “Buy” and an average target price of $9.46.
The company has a market cap of $147.95 million, a price-to-earnings ratio of -7.67 and a beta of 2.33. The firm’s 50 day simple moving average is $2.59 and its 200-day simple moving average is $2.94.
Several hedge funds and other institutional investors have recently made changes to their positions in AVXL. Deutsche Bank AG purchased a new position in Anavex Life Sciences during the 4th quarter worth approximately $28,000. AllSquare Wealth Management LLC lifted its stake in Anavex Life Sciences by 98.3% in the first quarter. AllSquare Wealth Management LLC now owns 32,390 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 16,060 shares during the last quarter. B. Riley Financial Inc. acquired a new stake in shares of Anavex Life Sciences in the first quarter valued at approximately $351,000. JPMorgan Chase & Co. acquired a new stake in shares of Anavex Life Sciences in the second quarter valued at approximately $38,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Anavex Life Sciences by 562.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 105,179 shares of the biotechnology company’s stock worth $355,000 after acquiring an additional 89,305 shares during the last quarter. 22.34% of the stock is owned by hedge funds and other institutional investors.
Anavex Life Sciences Company Profile (NASDAQ:AVXL)
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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