In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Anavex Life Sciences (AVXL – Research Report), with a price target of $54.00.
Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Anavex Life Sciences’s progress with their drug, blarcamesine. The European regulatory body’s endorsement for the submission of blarcamesine for treating Alzheimer’s disease is a significant milestone, signalling potential for a single application that could authorize marketing across all EU member states. This development is seen as a positive step that could lead to a relatively swift approval in Europe. Selvaraju finds the treatment’s prospects intriguing, particularly given the drug’s demonstrated efficacy in reducing dementia symptoms and markers of neurodegeneration in clinical trials.
Furthermore, Selvaraju’s optimism is bolstered by the recent release of comprehensive clinical gene pathway data from the AVATAR Rett syndrome trial, which indicates blarcamesine’s potential to correct metabolic alterations through enhanced mitochondrial energy production and other pathways. These findings could be crucial for understanding and treating Rett syndrome, a neurodevelopmental disorder with metabolic dysfunction at its core. The combination of these advancements reinforces Selvaraju’s confidence in Anavex Life Sciences, justifying the Buy rating and a 12-month price target of $54.
See Insiders’ Hot Stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Anavex Life Sciences (AVXL) Company Description:
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.
Read More on AVXL:
- Anavex Announces First Entire Clinical Gene Pathway Data of ANAVEX®2-73 from AVATAR Study in Patients with Rett Syndrome
- Anavex Received Agreement from the Committee for Medicinal Products for Human Use (CHMP) for the Submission of a Marketing Authorisation Application of Oral Blarcamesine for Alzheimer’s Disease
- Anavex receives CHMP agreement for MAA submission on oral blarcamesine
- Anavex put volume heavy and directionally bearish
- Anavex call volume above normal and directionally bullish
