HC Wainwright Reiterates Buy Rating for Annovis Bio (NYSE:ANVS)

Annovis Bio (NYSE:ANVS)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 391.00% from the company’s previous close.

ANVS has been the topic of a number of other research reports. Canaccord Genuity Group decreased their price objective on shares of Annovis Bio from $36.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday. Brookline Capital Management cut shares of Annovis Bio from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a research report on Wednesday, February 28th.

Annovis Bio Stock Performance

Shares of Annovis Bio stock opened at $6.11 on Tuesday. Annovis Bio has a 52-week low of $5.23 and a 52-week high of $22.49. The stock has a market capitalization of $67.28 million, a price-to-earnings ratio of -0.98 and a beta of 1.59. The company has a fifty day moving average of $10.49 and a 200-day moving average of $10.28.

Annovis Bio (NYSE:ANVS) last announced its quarterly earnings data on Friday, March 29th. The company reported ($1.09) earnings per share (EPS) for the quarter. On average, equities research analysts forecast that Annovis Bio will post -3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annovis Bio

A number of hedge funds have recently modified their holdings of the company. Private Trust Co. NA purchased a new position in shares of Annovis Bio during the fourth quarter valued at about $56,000. Greenwich Wealth Management LLC purchased a new position in shares of Annovis Bio during the fourth quarter valued at about $192,000. Wealthspire Advisors LLC increased its position in shares of Annovis Bio by 9.9% during the fourth quarter. Wealthspire Advisors LLC now owns 10,990 shares of the company’s stock valued at $206,000 after buying an additional 990 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Annovis Bio during the third quarter valued at about $2,847,000. Hedge funds and other 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 is in Phase 3 clinical trials for the treatment of Alzheimer's disease (AD), Parkinson's disease, and other chronic neurodegenerative diseases.