Anavex Life Sciences Corp.’s (NASDAQ:AVXL) Buy Rating Reiterated at Maxim Group

Maxim Group restated their buy rating on shares of Anavex Life Sciences Corp. (NASDAQ:AVXL) in a research note released on Thursday, July 20th. The brokerage currently has a $15.00 target price on the biotechnology company’s stock.

“Anavex announced the appointment of Andrew J. Cole, M.D., F.R.C.P.(C.) to its Scientific Advisory Board. Normally we would not comment on an advisory board addition however we are quite impressed with Dr. Cole and we believe his role represents a real element of validation to the company. Dr. Andrew J. Cole is Director of the MGH Epilepsy Service, Chief of the Division of Clinical Neurophysiology and Epilepsy and Professor of Neurology at Harvard Medical School. He graduated from Dartmouth College Magna Cum Laude and Dartmouth Medical School. He trained in Neurology and Clinical Neurophysiology at the Montreal Neurological Institute, and then moved to Johns Hopkins University School of Medicine where he was Assistant Professor of Neurology. He came to Massachusetts General Hospital in 1992 where he started and developed the MGH Epilepsy Service and founded the MGH Pediatric Epilepsy Service. He has published extensively in clinical neurology, epilepsy, clinical neurophysiology and basic neuroscience. In addition to research and clinical work, Dr. Cole lectures frequently throughout the United States and internationally, and has been a visiting professor at numerous institutions in the U.S.A. and abroad. I am impressed with Anavex and its potential CNS platform drug, ANAVEX 2-73, which has shown encouraging clinical safety data combined with promising preclinical anti-seizure data,” said Andrew J. Cole, M.D., F.R.C.P.(C.), Director of the Massachusetts General Hospital Epilepsy Service and Professor of Neurology at Harvard Medical School.”,” the firm’s analyst wrote.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Anavex Life Sciences Corp. from a buy rating to a hold rating in a research report on Wednesday, June 7th. Noble Financial restated a buy rating on shares of Anavex Life Sciences Corp. in a research report on Sunday, April 9th. Finally, ValuEngine lowered shares of Anavex Life Sciences Corp. from a hold rating to a sell rating in a research report on Friday, June 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $11.19.

Anavex Life Sciences Corp. (AVXL) traded down 3.02% on Thursday, reaching $3.86. 190,635 shares of the company traded hands. Anavex Life Sciences Corp. has a 52-week low of $2.43 and a 52-week high of $6.64. The firm’s market cap is $162.78 million. The stock has a 50-day moving average price of $4.63 and a 200-day moving average price of $5.44.

Anavex Life Sciences Corp. (NASDAQ:AVXL) last posted its earnings results on Monday, August 7th. The biotechnology company reported ($0.09) earnings per share for the quarter, hitting 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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A number of large investors have recently made changes to their positions in AVXL. JPMorgan Chase & Co. bought a new stake in shares of Anavex Life Sciences Corp. during the first quarter valued at about $105,000. Northwest Investment Counselors LLC acquired a new stake in shares of Anavex Life Sciences Corp. during the second quarter worth $106,000. American International Group Inc. raised its stake in shares of 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 worth $115,000 after buying an additional 1,329 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Anavex Life Sciences Corp. during the fourth quarter worth $151,000. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Anavex Life Sciences Corp. during the second quarter worth $151,000. 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.

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