Noble Financial analyst Kumaraguru Raja initiated Anavex with a Buy and a $16 price target. The lead product candidate, ANAVEX 2-73, is on path for a Phase 2/3 in Alzheimer's disease and a Phase 2 study in Rett's Syndrome. In previous trials, ANAVEX 2-73 has exhibited a high affinity and selection to sigma-1 receptors, and has shown synergistic action with other receptors, such as Muscarinic and N-methyl-D-aspartate in clinical trials. The drug has also displayed a favorable side effect profile, which can be beneficial to patients and advantageous when compared to current treatments. Anavex has received a grant from the International Rett Syndrome Foundation for at least $600,000, based on promising animal data. This grant is expected to cover most of the cost of the planned Phase 2 clinical trial of ANAVEX 2-73 in Rett syndrome.