Annovis Bio, Inc. (NYSE:ANVS) Receives $31.40 Consensus Price Target from Brokerages

Shares of Annovis Bio, Inc. (NYSE:ANVS) have received an average recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $31.40.

A number of research firms have issued reports on ANVS. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Annovis Bio in a research note on Monday, November 11th. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, October 25th.

Annovis Bio Price Performance

ANVS stock opened at $4.77 on Friday. The stock has a market capitalization of $65.81 million, a PE ratio of -1.07 and a beta of 1.64. The company’s 50-day moving average is $6.02 and its 200-day moving average is $8.04. Annovis Bio has a 1 year low of $4.21 and a 1 year high of $20.00.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). On average, analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in shares of Annovis Bio in the 3rd quarter worth approximately $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Annovis Bio in the 3rd quarter worth approximately $76,000. Greenwich Wealth Management LLC raised its holdings in shares of Annovis Bio by 19.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock worth $87,000 after purchasing an additional 2,500 shares during the period. XTX Topco Ltd bought a new stake in shares of Annovis Bio in the 2nd quarter worth approximately $115,000. Finally, State Street Corp raised its holdings in shares of Annovis Bio by 23.7% in the 3rd quarter. State Street Corp now owns 36,035 shares of the company’s stock worth $290,000 after purchasing an additional 6,900 shares during the period. Institutional investors own 15.83% of the company’s stock.

Annovis Bio Company Profile

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.