See Why These Four Stocks Are Down on Monday

Anavex Life Sciences Corp. (NASDAQ:AVXL) slid by 10.43% with more than 11 million shares traded, after presenting the results of its study of an oral treatment for Alzheimer’s disease. The ANAVEX 2-73 study, according to Anavex Life Sciences Corp. (NASDAQ:AVXL), met the primary objective for safety and it was consistent with the results of a prior phase of the study. The results also showed promising cognition effects.

“While it is of prime importance to have confirmed that both the primary and secondary endpoints of the trial have been met, it is extremely encouraging to see the emergence of such strong cognitive signals after only 5 weeks of treatment. Such an outcome in a trial such as this is unprecedented in my experience, and the current results suggest that ANAVEX 2-73 could potentially make a significant difference in patients’ lives,” said Associate Professor Stephen Macfarlane, FRANZCP, Director of Aged Psychiatry at Alfred Health.

Steelmaker Alcoa Inc (NYSE:AA) has declined by 5.94% on the back of an analyst downgrade. Earlier today, Nomura issued a note, downgrading the stock to ‘Neutral’ from ‘Buy’. The analyst also cut its price target to $8.00 from $14.00. In the note, Nomura mentioned the saturation of goods in the aluminum industry, which could affect Alcoa’s value, among the reasons for downgrading the stock. Overall, the consensus rating on the stock is ‘Buy’ and the average price target stands at around $14.90 per share. However, among the funds from out database the sentiment is rather positive with 45 funds holding 8.30% of Alcoa Inc (NYSE:AA)’s outstanding stock at the end of June.

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