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Anavex Life Sciences stock slides as downgraded to neutral at Cantor Fitzgerald

  • Cantor Fitzgerald analyst Charles Duncan downgraded Anavex (AVXL) to Neutral from Overweight with a price target of $11, down from $16, after the company discussed the top-line results of its P2b/3 study of ANAVEX2-73 or blarcamesine, that were presented on December 1 at the Clinical Trials on Alzheimer's Disease Congress.
  • There are several key factors that suggest the data are "provocative, but not yet compelling," including the choice of statistical analyses and other trial design/conduct "complexifiers," Duncan tells investors.
  • There are also safety signals that may have broader platform implications, said Duncan, who has decided to step to the "sidelines" until he gets clarity with study data details.
  • Anavex Quant Rating says to Hold whereas, Wall St. Analysts rating stands with Strong Buy (3 Very Bullish, 1 Bullish).
  • Since the start of 2022, Anavex shares were down around 51%, and over a period of one year, shares were down around 52%.
  • Shares are currently down 10.07% to $8.62 today.