Blurbs

H.C. Wainwright Thinks Anavex Life Sciences’ Stock is Going to Recover

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Anavex Life Sciences (AVXLResearch Report) today and set a price target of $42.00. The company’s shares closed last Tuesday at $10.65, close to its 52-week low of $9.28.

According to TipRanks.com, Selvaraju has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -33.9% and a 17.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Reviva Pharmaceuticals Holdings, Aquestive Therapeutics, and Vallon Pharmaceuticals.

Anavex Life Sciences has an analyst consensus of Strong Buy, with a price target consensus of $30.40.

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Based on Anavex Life Sciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.88 million. In comparison, last year the company had a GAAP net loss of $7.86 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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