Keep an eye on Anavex Life Sciences (AVXL).
Over the last few months, the stock exploded from a low of about $4 to 30. While the stock recently pulled back, use the weakness as opportunity.
All after reporting that the “predictive biomarker of response established with SIGMAR1 mRNA expression correlates significantly with responses in primary and secondary clinical efficacy endpoints from the proof-of-concept randomized, double-blind, placebo-controlled Phase 2 trial that randomized 132 patients with Parkinson’s disease dementia equally to target doses of 30mg, 50mg ANAVEX®2-73 or placebo, respectively,” as noted in a company press release.
Helping, Cantor Fitzgerald analyst Charles Duncan, as noted by The Fly raised his price target on the stock from $31 to $40. “Duncan tells investors in a research note that data from the company’s study of lead candidate, ANAVEX 2-73, in Parkinson’s disease dementia further establishes clinical proof of concept. The data also enhances the analyst’s conviction in ANAVEX 2-73 to emerge as a potentially effective treatment in neurodegenerative diseases and developmental disorders.”