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Anavex Life Sciences (AVXL) Gets a Buy Rating from JonesTrading

In a report released today, Soumit Roy from JonesTrading maintained a Buy rating on Anavex Life Sciences (AVXLResearch Report), with a price target of $40.00. The company’s shares closed last Friday at $10.26.

According to TipRanks.com, Roy is a 3-star analyst with an average return of 3.6% and a 30.4% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Adaptimmune Therapeutics, and Monopar Therapeutics Inc.

Currently, the analyst consensus on Anavex Life Sciences is a Strong Buy with an average price target of $35.20, representing a 243.1% upside. In a report issued on July 19, Berenberg Bank also maintained a Buy rating on the stock with a $40.00 price target.

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Based on Anavex Life Sciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $10.44 million. In comparison, last year the company had a GAAP net loss of $8.16 million.

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Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of different therapeutics for the treatment of neurodegenerative and neurodevelopmental diseases. Its lead compound, ANAVEX2-73, is being developed to treat Alzheimer’s and Parkinson’s disease and central nervous system diseases, including Rett syndrome. The company was founded by Harvey Lalach and Athanasios Skarpelos on January 23, 2004 and is headquartered in New York, NY.

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