Annovis Bio, Inc. (NYSE:ANVS) Receives $32.17 Consensus Price Target from Analysts

Shares of Annovis Bio, Inc. (NYSE:ANVS) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $32.17.

A number of analysts have weighed in on the company. 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 report on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Annovis Bio in a research note on Monday, November 11th.

Annovis Bio Price Performance

Annovis Bio stock opened at $4.46 on Tuesday. The stock’s 50 day moving average is $7.32 and its 200 day moving average is $8.15. Annovis Bio has a one year low of $4.21 and a one year high of $22.49. The firm has a market cap of $61.53 million, a P/E ratio of -1.00 and a beta of 1.59.

Annovis Bio (NYSE:ANVS) last issued 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). Equities analysts anticipate that Annovis Bio will post -2.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annovis Bio

A number of hedge funds have recently added to or reduced their stakes in ANVS. Vanguard Group Inc. raised its holdings in 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. 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 acquiring an additional 2,500 shares during the last quarter. XTX Topco Ltd bought a new position in Annovis Bio in the 2nd quarter valued at about $115,000. Cetera Advisors LLC acquired a new position in Annovis Bio during the 1st quarter valued at about $122,000. Finally, Quest Partners LLC bought a new stake in Annovis Bio during the 3rd quarter worth approximately $371,000. Institutional investors and hedge funds 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.