Annovis Bio, Inc. (NYSE:ANVS) Receives $37.00 Average Target Price from Brokerages

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $37.00.

Separately, D. Boral Capital reaffirmed a “hold” rating on shares of Annovis Bio in a research note on Monday, February 10th.

Annovis Bio Price Performance

Shares of ANVS stock opened at $1.65 on Thursday. The company has a market capitalization of $23.42 million, a price-to-earnings ratio of -0.37 and a beta of 1.65. The company’s fifty day moving average price is $2.69 and its 200-day moving average price is $5.52. Annovis Bio has a one year low of $1.53 and a one year high of $20.00.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings results on Friday, March 21st. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). During the same quarter in the prior year, the company posted ($0.43) EPS. Equities research analysts expect that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Annovis Bio by 23.7% during the third quarter. State Street Corp now owns 36,035 shares of the company’s stock valued at $290,000 after buying an additional 6,900 shares during the last quarter. Geode Capital Management LLC increased its stake in Annovis Bio by 30.0% in the third quarter. Geode Capital Management LLC now owns 99,114 shares of the company’s stock worth $799,000 after purchasing an additional 22,881 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Annovis Bio during the third quarter worth $76,000. JPMorgan Chase & Co. bought a new stake in shares of Annovis Bio during the third quarter worth $31,000. Finally, Merit Financial Group LLC boosted its stake in shares of Annovis Bio by 269.0% during the fourth quarter. Merit Financial Group LLC now owns 98,516 shares of the company’s stock valued at $496,000 after purchasing an additional 71,816 shares during the period. 15.83% of the stock is currently owned by institutional investors.

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.