Fintel reports that on July 22, 2024, EF Hutton initiated coverage of Anavex Life Sciences (NasdaqGS:AVXL) with a Buy recommendation.
Analyst Price Forecast Suggests 374.62% Upside
As of July 4, 2024, the average one-year price target for Anavex Life Sciences is $28.05/share. The forecasts range from a low of $15.15 to a high of $42.00. The average price target represents an increase of 374.62% from its latest reported closing price of $5.91 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Anavex Life Sciences is 22MM. The projected annual non-GAAP EPS is -0.63.
What is the Fund Sentiment?
There are 277 funds or institutions reporting positions in Anavex Life Sciences. This is an decrease of 5 owner(s) or 1.77% in the last quarter. Average portfolio weight of all funds dedicated to AVXL is 0.02%, an increase of 38.21%. Total shares owned by institutions increased in the last three months by 23.49% to 33,581K shares. 
The put/call ratio of AVXL is 0.16, indicating a bullish outlook.
What are Other Shareholders Doing?
XBI - SPDR(R) S&P(R) Biotech ETF holds 5,582K shares representing 6.59% ownership of the company. In its prior filing, the firm reported owning 2,070K shares , representing an increase of 62.91%. The firm increased its portfolio allocation in AVXL by 36.43% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,271K shares representing 2.68% ownership of the company. In its prior filing, the firm reported owning 2,267K shares , representing an increase of 0.17%. The firm decreased its portfolio allocation in AVXL by 50.07% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,763K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 1,938K shares , representing a decrease of 9.96%. The firm decreased its portfolio allocation in AVXL by 48.80% over the last quarter.
Geode Capital Management holds 1,713K shares representing 2.02% ownership of the company. In its prior filing, the firm reported owning 1,665K shares , representing an increase of 2.77%. The firm decreased its portfolio allocation in AVXL by 50.29% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 1,227K shares representing 1.45% ownership of the company. In its prior filing, the firm reported owning 1,204K shares , representing an increase of 1.85%. The firm decreased its portfolio allocation in AVXL by 47.63% over the last quarter.
Anavex Life Sciences Background Information
(This description is provided by the company.)
Anavex Life Sciences Corp. is a publicly traded biopharmaceutical company dedicated to the development of differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders including Alzheimer's disease, Parkinson's disease, Rett syndrome and other central nervous system (CNS) diseases, pain and various types of cancer. Anavex's lead drug candidate, ANAVEX®2-73 (blarcamesine), recently completed a successful Phase 2a clinical trial for Alzheimer's disease. ANAVEX®2-73 (blarcamesine) is an orally available drug candidate that restores cellular homeostasis by targeting sigma-1 and muscarinic receptors. Preclinical studies demonstrated its potential to halt and/or reverse the course of Alzheimer's disease. ANAVEX®2-73 (blarcamesine) also exhibited anticonvulsant, anti-amnesic, neuroprotective and anti-depressant properties in animal models, indicating its potential to treat additional CNS disorders, including epilepsy. The Michael J. Fox Foundation for Parkinson's Research previously awarded Anavex a research grant, which fully funded a preclinical study to develop ANAVEX®2-73 (blarcamesine) for the treatment of Parkinson's disease. ANAVEX®3-71, which targets sigma-1 and muscarinic receptors, is a promising preclinical drug candidate demonstrating disease-modifying activity against the major hallmarks of Alzheimer's disease in transgenic (3xTg-AD) mice, including cognitive deficits, amyloid and tau pathologies. In preclinical trials, ANAVEX®3-71 has shown beneficial effects on mitochondrial dysfunction and neuroinflammation.
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