Rodman & Renshaw Reiterates Buy Rating for Annovis Bio (NYSE:ANVS)

Annovis Bio (NYSE:ANVS)‘s stock had its “buy” rating restated by equities researchers at Rodman & Renshaw in a report issued on Tuesday, Benzinga reports. They currently have a $67.00 target price on the stock.

Several other research firms have also weighed in on ANVS. Canaccord Genuity Group reduced their price objective on shares of Annovis Bio from $36.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of Annovis Bio in a research report on Wednesday, June 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Annovis Bio presently has an average rating of “Moderate Buy” and an average target price of $32.20.

Annovis Bio Stock Performance

Shares of ANVS opened at $8.08 on Tuesday. Annovis Bio has a one year low of $4.53 and a one year high of $22.49. The stock’s fifty day moving average is $6.90 and its 200-day moving average is $9.88. The firm has a market capitalization of $90.25 million, a price-to-earnings ratio of -1.41 and a beta of 1.75.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.15. Analysts forecast that Annovis Bio will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

Several hedge funds have recently made changes to their positions in the company. Private Trust Co. NA acquired a new position in Annovis Bio in the 4th quarter worth approximately $56,000. Cetera Advisors LLC acquired a new position in Annovis Bio during the first quarter valued at $122,000. Greenwich Wealth Management LLC purchased a new stake in Annovis Bio in the 4th quarter worth about $192,000. Wealthspire Advisors LLC lifted its stake in Annovis Bio by 9.9% in the 4th quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock worth $206,000 after acquiring an additional 990 shares in the last quarter. Finally, Redmond Asset Management LLC boosted its position in Annovis Bio by 6.1% during the 1st quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after acquiring an additional 2,077 shares during the period. Hedge funds and other institutional investors own 15.83% of the company’s stock.

About Annovis Bio

Annovis Bio, Inc, a clinical stage drug platform company, develops drugs to treat neurodegeneration. The company's lead product candidate is Buntanetap, which has completed three Phase 1/2 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.