Roth Capital analyst Jotin Marango maintained a Buy rating on Anavex Life Sciences (AVXL) today and set a price target of $10. The company’s shares closed on Friday at $1.82.
Marango commented:
“We like the breadth and optionality of the Anavex pipeline, which blends together a non-traditional neuro target (sigma-1 receptor), biomarker-guided clinical strategy, orphan neurodevelopmental disorders (our focus: Rett syndrome), as well as canonical neurodegenerative diseases (our focus: Alzheimer’s). As the company continues to ramp up patient enrollment in multiple clinical studies under a thrifty market cap, we are resuming coverage with a Buy rating and $10 PT.”
According to TipRanks.com, Marango is ranked 0 out of 5 stars with an average return of -13.4% and a 30.7% success rate. Marango covers the Healthcare sector, focusing on stocks such as Stemline Therapeutics Inc, Actinium Pharmaceuticals, and Aptevo Therapeutics Inc.
Currently, the analyst consensus on Anavex Life Sciences is a Strong Buy with an average price target of $9.
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Based on Anavex Life Sciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.79 million. In comparison, last year the company had a GAAP net loss of $4.06 million.
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Anavex Life Sciences Corp. is a clinical stage biopharmaceutical company, which engages in the development of differentiated 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.
