Anavex Life Sciences Corp. (AVXL) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) from a buy rating to a hold rating in a research note issued to investors on Friday.

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According to Zacks, “ANAVEX LIFE SCIENCES CORP. is an emerging biopharmaceutical company engaged in the discovery and development of novel drug targets for the treatment of cancer and neurological diseases. The company’s proprietary SIGMACEPTOR Discovery Platform involves the rational drug design of compounds that fulfill specific criteria based on unmet market needs and new scientific advances. Selected drug candidates demonstrate high, non-exclusive affinity for sigma receptors, which are involved in the modulation of multiple cellular biochemical signaling pathways. “

AVXL has been the topic of several other reports. Maxim Group set a $15.00 price target on shares of Anavex Life Sciences Corp. and gave the company a buy rating in a report on Monday, May 22nd. Noble Financial reaffirmed a buy rating on shares of Anavex Life Sciences Corp. in a report on Sunday, May 14th. Finally, ValuEngine raised shares of Anavex Life Sciences Corp. from a sell rating to a hold rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $11.19.

Shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) traded down 3.97% during midday trading on Friday, reaching $4.35. The company had a trading volume of 197,031 shares. The firm’s 50 day moving average price is $4.38 and its 200-day moving average price is $5.40. Anavex Life Sciences Corp. has a 12 month low of $2.43 and a 12 month high of $6.64. The company’s market capitalization is $183.45 million.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Analysts anticipate that Anavex Life Sciences Corp. will post ($0.38) earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the company. American International Group Inc. increased its stake in Anavex Life Sciences Corp. by 7.1% in the first quarter. American International Group Inc. now owns 20,103 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 1,329 shares in the last quarter. Teachers Advisors LLC increased its stake in Anavex Life Sciences Corp. by 5.7% in the second quarter. Teachers Advisors LLC now owns 67,746 shares of the biotechnology company’s stock valued at $360,000 after buying an additional 3,681 shares in the last quarter. Wells Fargo & Company MN increased its stake in Anavex Life Sciences Corp. by 12.1% in the second quarter. Wells Fargo & Company MN now owns 40,385 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 4,347 shares in the last quarter. Bank of America Corp DE increased its stake in Anavex Life Sciences Corp. by 12.9% in the first quarter. Bank of America Corp DE now owns 39,981 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 4,561 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Anavex Life Sciences Corp. by 14.8% in the second quarter. Rhumbline Advisers now owns 40,342 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 5,205 shares in the last quarter. Institutional investors and hedge funds own 22.64% of the company’s stock.

Anavex Life Sciences Corp. Company Profile

Anavex Life Sciences Corp., is a clinical-stage biopharmaceutical company engaged in the development of drug candidates. The Company’s lead compounds include ANAVEX 2-73, ANAVEX PLUS, a combination of ANAVEX 2-73 with donepezil (Aricept), ANAVEX 19-144, ANAVEX 1-41, ANAVEX 7-1037, ANAVEX 3-71, ANAVEX 1079, ANAVEX 1519 and ANAVEX 1066 being developed to treat Alzheimer’s disease and other central nervous system (CNS) diseases.