Anavex Life Sciences Corp (AVXL)

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Anavex Life Sciences Corp. (AVXL) Receives Buy Rating from Maxim Group
Posted by Jared Coughlin on Nov 29th, 2016 // No Comments

Anavex Life Sciences Corp. logoAnavex Life Sciences Corp. (NASDAQ:AVXL)‘s stock had its “buy” rating restated by research analysts at Maxim Group in a report issued on Tuesday. They presently have a $15.00 target price on the stock. Maxim Group’s price objective would suggest a potential upside of 275.00% from the stock’s previous close.

Separately, FBR & Co reissued an “outperform” rating and set a $10.00 price objective on shares of Anavex Life Sciences Corp. in a report on Wednesday, October 5th.

Anavex Life Sciences Corp. (NASDAQ:AVXL) traded down 3.15% during midday trading on Tuesday, hitting $4.00. The company had a trading volume of 1,087,985 shares. Anavex Life Sciences Corp. has a one year low of $2.43 and a one year high of $8.30. The company’s 50 day moving average is $3.23 and its 200-day moving average is $3.99. The company’s market cap is $142.84 million.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD bought a new position in shares of Anavex Life Sciences Corp. during the third quarter worth approximately $108,000. American International Group Inc. acquired a new stake in Anavex Life Sciences Corp. during the second quarter worth about $115,000. Rhumbline Advisers raised its stake in Anavex Life Sciences Corp. by 13.1% in the third quarter. Rhumbline Advisers now owns 35,476 shares of the company’s stock worth $129,000 after buying an additional 4,100 shares during the period. Nationwide Fund Advisors acquired a new stake in Anavex Life Sciences Corp. during the second quarter worth about $130,000. Finally, Credit Suisse AG raised its stake in Anavex Life Sciences Corp. by 28.6% in the third quarter. Credit Suisse AG now owns 65,937 shares of the company’s stock worth $239,000 after buying an additional 14,660 shares during the period. 12.83% of the stock is currently owned by institutional investors and hedge funds.

About Anavex Life Sciences Corp.

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.

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