Does Anavex Life Sciences Corp. (AVXL) Have Any Gas After Making 52-Week Low?

January 17, 2018 - By Winifred Garcia

The stock of Anavex Life Sciences Corp. (NASDAQ:AVXL) hit a new 52-week low and has $2.59 target or 7.00 % below today’s $2.78 share price. The 5 months bearish chart indicates high risk for the $122.93 million company. The 1-year low was reported on Jan, 17 by Barchart.com. If the $2.59 price target is reached, the company will be worth $8.61M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 7.64% or $0.23 during the last trading session, reaching $2.78. About 548,183 shares traded or 62.61% up from the average. Anavex Life Sciences Corp. (NASDAQ:AVXL) has risen 38.07% since January 17, 2017 and is uptrending. It has outperformed by 21.37% the S&P500.

More notable recent Anavex Life Sciences Corp. (NASDAQ:AVXL) news were published by: Globenewswire.com which released: “Anavex Life Sciences Issued New US Patent for Composition of Matter Covering …” on September 05, 2017, also Globenewswire.com with their article: “Anavex Life Sciences Reports Fiscal 2017 Financial Results And Provides Update …” published on December 11, 2017, Globenewswire.com published: “Anavex Life Sciences Presents New Clinical Data of Investigational Alzheimer’s …” on November 04, 2017. More interesting news about Anavex Life Sciences Corp. (NASDAQ:AVXL) were released by: Globenewswire.com and their article: “Anavex Life Sciences Reports PK and PD Data from Phase 2a Trial of ANAVEX®2-73 …” published on October 12, 2017 as well as Globenewswire.com‘s news article titled: “Anavex Life Sciences Announces New Data Related to Multiple Sclerosis …” with publication date: October 27, 2017.

Anavex Life Sciences Corp., a clinical stage biopharmaceutical company, engages in the development of drug candidates for the treatment of AlzheimerÂ’s disease, other central nervous system diseases, pain, and various cancers. The company has market cap of $122.93 million. The companyÂ’s lead drug candidates include ANAVEX 2-73, a Phase 2a clinical trial for the treatment of AlzheimerÂ’s disease; and preclinical stage to treat ParkinsonÂ’s disease. It currently has negative earnings. The Company’s preclinical drug candidates include ANAVEX 3-71, which uses ligands that activate sigma-1 and M1 muscarinic receptors to treat AlzheimerÂ’s disease; ANAVEX 1-41, a sigma-1 agonist that protects nerve cells from degeneration or death; ANAVEX 1037 for the treatment of prostate cancer; and ANAVEX 1066, a mixed sigma-1/sigma-2 ligand for the treatment of neuropathic and visceral pain.

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