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

Annovis Bio (NYSE:ANVS) issued its earnings results on Friday. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33), Zacks reports.

Annovis Bio Trading Down 7.1 %

Annovis Bio stock traded down $0.58 during trading hours on Monday, reaching $7.58. 605,237 shares of the stock were exchanged, compared to its average volume of 356,884. Annovis Bio has a twelve month low of $4.53 and a twelve month high of $22.49. The stock has a 50 day moving average of $8.53 and a two-hundred day moving average of $8.39.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ANVS. Maxim Group raised shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, October 25th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Annovis Bio in a research report on Monday. Finally, EF Hutton Acquisition Co. I raised shares of Annovis Bio to a “strong-buy” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average 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.