HC Wainwright Raises Anavex Life Sciences (NASDAQ:AVXL) Price Target to $14.00

Anavex Life Sciences (NASDAQ:AVXL) had its price target increased by HC Wainwright from $12.00 to $14.00 in a research report sent to investors on Wednesday morning, The Fly reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

AVXL has been the subject of a number of other research reports. LADENBURG THALM/SH SH assumed coverage on shares of Anavex Life Sciences in a research report on Monday, September 28th. They set a buy rating and a $12.00 target price for the company. Zacks Investment Research lowered shares of Anavex Life Sciences from a buy rating to a hold rating in a research report on Wednesday, October 7th. Finally, BidaskClub lowered shares of Anavex Life Sciences from a buy rating to a hold rating in a research report on Thursday, July 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Anavex Life Sciences presently has an average rating of Buy and a consensus target price of $10.75.

AVXL stock opened at $5.73 on Wednesday. Anavex Life Sciences has a 1 year low of $2.20 and a 1 year high of $6.31. The company has a fifty day simple moving average of $4.26 and a 200 day simple moving average of $4.12. The firm has a market cap of $344.59 million, a PE ratio of -13.63 and a beta of 1.59.

Anavex Life Sciences (NASDAQ:AVXL) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. Sell-side analysts anticipate that Anavex Life Sciences will post -0.51 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of AVXL. Bank of Montreal Can increased its stake in Anavex Life Sciences by 203.9% in the second quarter. Bank of Montreal Can now owns 6,078 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 4,078 shares in the last quarter. Citigroup Inc. raised its stake in Anavex Life Sciences by 49.4% in the 1st quarter. Citigroup Inc. now owns 12,851 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 4,247 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in Anavex Life Sciences in the 1st quarter worth about $42,000. BNP Paribas Arbitrage SA raised its stake in Anavex Life Sciences by 130.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,086 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 7,978 shares in the last quarter. Finally, Thomasville National Bank acquired a new stake in Anavex Life Sciences in the 2nd quarter worth about $49,000. 19.83% of the stock is currently owned by hedge funds and other institutional investors.

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 is in Phase III clinical trial for the treatment of Alzheimer's disease; Phase II clinical trials to treat Parkinson's disease; and preclinical clinical trials to treat Rett syndrome, epilepsy, infantile spasms, Fragile X syndrome, Angelman syndrome, multiple sclerosis, and tuberous sclerosis complex.

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