Annovis Bio (NYSE:ANVS) Announces Quarterly Earnings Results, Misses Estimates By $0.33 EPS

Annovis Bio (NYSE:ANVS) released its quarterly earnings data on Friday. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.33), Zacks reports.

Annovis Bio Price Performance

Shares of NYSE ANVS traded down $0.58 during midday trading on Monday, reaching $7.58. The company’s stock had a trading volume of 605,237 shares, compared to its average volume of 356,884. Annovis Bio has a fifty-two week low of $4.53 and a fifty-two week high of $22.49. The stock has a 50 day simple moving average of $8.53 and a 200-day simple moving average of $8.39.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ANVS shares. Maxim Group raised shares of 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. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Annovis Bio in a research note on Monday. Finally, EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $32.17.

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.