Anavex Life Sciences (AVXL) Stock Rating Lowered by ValuEngine

Anavex Life Sciences (NASDAQ:AVXL) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday, November 21st.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Anavex Life Sciences from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a report on Thursday, August 10th. Noble Financial reaffirmed a “buy” rating on shares of Anavex Life Sciences in a report on Wednesday, August 9th. Finally, Maxim Group set a $15.00 target price on shares of Anavex Life Sciences and gave the company a “buy” rating in a report on Monday, August 7th.

Anavex Life Sciences (NASDAQ AVXL) traded down $0.06 during mid-day trading on Tuesday, hitting $3.60. 158,300 shares of the company traded hands, compared to its average volume of 403,600. Anavex Life Sciences has a 52 week low of $3.33 and a 52 week high of $6.64.

Several hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its position in Anavex Life Sciences by 7.1% during the 1st 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 during the period. Teachers Advisors LLC boosted its position in Anavex Life Sciences by 5.7% during the 2nd 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 during the period. Wells Fargo & Company MN boosted its position in Anavex Life Sciences by 12.1% during the 2nd 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 during the period. Bank of America Corp DE boosted its position in Anavex Life Sciences by 12.9% during the 1st 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 during the period. Finally, Rhumbline Advisers boosted its position in Anavex Life Sciences by 14.8% during the 2nd 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 during the period. 23.88% of the stock is currently owned by institutional investors.

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Anavex Life Sciences 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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