ValuEngine Upgrades Anavex Life Sciences (NASDAQ:AVXL) to “Hold”

ValuEngine upgraded shares of Anavex Life Sciences (NASDAQ:AVXL) from a sell rating to a hold rating in a report published on Saturday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of Anavex Life Sciences from a buy rating to a hold rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $9.75.

Shares of NASDAQ AVXL traded up $0.13 during trading on Friday, hitting $3.30. 1,021,684 shares of the company traded hands, compared to its average volume of 739,665. The company has a 50-day moving average price of $2.64 and a 200-day moving average price of $2.77. Anavex Life Sciences has a 1 year low of $1.71 and a 1 year high of $4.09.

Anavex Life Sciences (NASDAQ:AVXL) last issued its quarterly earnings results on Monday, December 16th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.08. Equities research analysts expect that Anavex Life Sciences will post -0.48 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of AVXL. JPMorgan Chase & Co. acquired a new position in shares of Anavex Life Sciences during the second quarter valued at approximately $38,000. Squarepoint Ops LLC bought a new stake in Anavex Life Sciences during the third quarter worth approximately $40,000. FormulaFolio Investments LLC acquired a new stake in Anavex Life Sciences in the third quarter worth approximately $44,000. Kessler Investment Group LLC lifted its position in Anavex Life Sciences by 418.0% in the third quarter. Kessler Investment Group LLC now owns 20,721 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 16,721 shares during the period. Finally, Foster Victor Wealth Advisors LLC bought a new position in Anavex Life Sciences during the 3rd quarter valued at $76,000. Institutional investors and hedge funds own 23.70% 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 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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