Annovis Bio, Inc. (NYSE:ANVS) Given Average Recommendation of “Buy” by Brokerages

Shares of Annovis Bio, Inc. (NYSE:ANVS) have earned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $32.17.

A number of research firms have weighed in on ANVS. Maxim Group upgraded Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Friday, October 25th. EF Hutton Acquisition Co. I upgraded Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annovis Bio in a report on Wednesday, October 16th.

Hedge Funds Weigh In On Annovis Bio

Hedge funds have recently made changes to their positions in the company. Greenwich Wealth Management LLC grew its holdings in shares of Annovis Bio by 9.3% during the third quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock worth $133,000 after buying an additional 1,400 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Annovis Bio during the second quarter worth about $115,000. Cetera Advisors LLC purchased a new position in shares of Annovis Bio during the first quarter worth about $122,000. Vanguard Group Inc. grew its holdings in shares of Annovis Bio by 6.1% during the first quarter. Vanguard Group Inc. now owns 357,942 shares of the company’s stock worth $4,260,000 after buying an additional 20,588 shares during the last quarter. Finally, Redmond Asset Management LLC grew its holdings in shares of Annovis Bio by 6.1% during the first quarter. Redmond Asset Management LLC now owns 36,157 shares of the company’s stock worth $430,000 after buying an additional 2,077 shares during the last quarter. Hedge funds and other institutional investors own 15.83% of the company’s stock.

Annovis Bio Trading Down 2.0 %

Shares of NYSE ANVS opened at $9.09 on Monday. Annovis Bio has a 12-month low of $4.53 and a 12-month high of $22.49. The stock has a market cap of $118.62 million, a P/E ratio of -1.78 and a beta of 1.70. The business’s fifty day simple moving average is $8.58 and its 200-day simple moving average is $8.49.

Annovis Bio (NYSE:ANVS) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.19. On average, equities analysts forecast that Annovis Bio will post -2.53 EPS for the current fiscal year.

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.