H.C. Wainwright Starts Anavex Life Sciences (AVXL) at Buy

H.C. Wainwright analyst Seema Sheoran initiates coverage on Anavex Life Sciences (NASDAQ: AVXL) with a Buy rating and a price target of $20.00.

The analyst comments "We initiate coverage of Anavex (AVXL) with a Buy rating and $20 price target, implying ~500% upside from the current share price. AVXL is developing oral therapies that modulate autophagy to treat CNS diseases. Our investment thesis centers on Blarcamesine (ANAVEX 2‑73), a once‑daily oral SIGMA1‑receptor activator expected to enter a global Ph3 trial in early Alzheimer’s disease by YE. A successful study, combined with its oral administration and emerging safety profile in a large Alzheimer’s market, could support AVXL’s transition to a multi‑$B market cap. Current cash position of ~$130M, guided to be sufficient to complete the study, though we view this as tight and anticipate additional capital will likely be required."

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 $3.32 yesterday.

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