Annovis Bio’s (ANVS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Annovis Bio (NYSE:ANVS) in a report issued on Monday,Benzinga reports. The brokerage currently has a $30.00 target price on the stock. HC Wainwright also issued estimates for Annovis Bio’s Q4 2024 earnings at ($0.38) EPS, Q1 2025 earnings at ($0.47) EPS, Q3 2025 earnings at ($0.57) EPS, Q4 2025 earnings at ($0.76) EPS and FY2025 earnings at ($2.32) EPS.

Several other research analysts have also commented on the company. EF Hutton Acquisition Co. I upgraded Annovis Bio to a “strong-buy” rating in a research report on Tuesday, August 13th. 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 report on Friday, October 25th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.17.

Annovis Bio Stock Performance

ANVS opened at $6.94 on Monday. Annovis Bio has a 1 year low of $4.53 and a 1 year high of $22.49. The firm has a 50 day moving average price of $8.47 and a 200 day moving average price of $8.27. The company has a market cap of $95.77 million, a PE ratio of -1.66 and a beta of 1.70.

Annovis Bio (NYSE:ANVS) last announced its earnings results on Friday, November 8th. The company reported ($0.97) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.33). On average, sell-side analysts predict that Annovis Bio will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On Annovis Bio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew 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 valued at $4,260,000 after purchasing an additional 20,588 shares during the period. Quest Partners LLC acquired a new position in shares of Annovis Bio in the third quarter valued at approximately $371,000. XTX Topco Ltd bought a new stake in Annovis Bio in the 2nd quarter valued at $115,000. Greenwich Wealth Management LLC boosted its stake in Annovis Bio by 9.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 16,475 shares of the company’s stock worth $133,000 after purchasing an additional 1,400 shares during the period. Finally, Cetera Advisors LLC bought a new position in shares of Annovis Bio during the first quarter worth about $122,000. 15.83% of the stock is owned by institutional investors and hedge funds.

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.