Anavex price target raised to $42 from $40 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju raised the firm’s price target on Anavex (AVXL) to $42 from $40 and keeps a Buy rating on the shares after the company announced the acceptance of the blarcamesine Marketing Authorization Application for the treatment of Alzheimer’s disease for review by the European Medicines Agency. The “timely acceptance” of the MAA for blarcamesine reflects at least in part the EMA’s recognition of the severe unmet medical need in Alzheimer’s, the analyst tells investors.