H.C. Wainwright Sticks to Their Buy Rating for Anavex Life Sciences (AVXL)

By Ryan Adsit

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Anavex Life Sciences (AVXLResearch Report) today and set a price target of $12.00. The company’s shares closed last Thursday at $4.22.

According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 28.5% and a 57.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Black Diamond Therapeutics, and Biospecifics Technologies.

Currently, the analyst consensus on Anavex Life Sciences is a Moderate Buy with an average price target of $12.00.

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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 $7.24 million. In comparison, last year the company had a GAAP net loss of $7.25 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.