Maxim Group Doesn't See Anything Nefarious at Anavex (AVXL)

Maxim Group analyst Jason Kolbert weighed in on Anavex Life Sciences (NASDAQ: AVXL) with shares selling off on disclosure of an SEC subpoena.

"We do not believe it involves any wrong doing by the company or management," Kolbert commented. "As such we do not see anything nefarious here."

The analyst highlights that Anavex recently announced that it is moving forward with the development program for ANAVEX 2-73. Guidance received from the FDA confirms the strategy to advance ANAVEX 2-73 (Alzheimer’s) in a larger double-blinded, randomized, placebo-controlled P 2/3 study. Recall that Anavex presented data at the International Clinical Trials on Alzheimer’s Disease (CTAD) 2015 Conference in Barcelona, Spain. The data showed statistically significant improvements on exploratory clinical endpoints

The firm maintained a Buy rating and price target of $15.00

For an analyst ratings summary and ratings history on Anavex Life Sciences click here. For more ratings news on Anavex Life Sciences click here.

Shares of Anavex Life Sciences closed at $7.03 yesterday.

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