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

HC Wainwright reiterated their buy rating on shares of Annovis Bio (NYSE:ANVS) in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a $30.00 price target 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 analysts have also recently weighed in on the company. EF Hutton Acquisition Co. I upgraded Annovis Bio to a “strong-buy” rating in a report on Tuesday, August 13th. Maxim Group upgraded shares of Annovis Bio from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.17.

Annovis Bio Price Performance

ANVS stock opened at $6.94 on Monday. The company has a fifty day moving average price of $8.47 and a two-hundred day moving average price of $8.27. The stock has a market cap of $95.77 million, a price-to-earnings ratio of -1.66 and a beta of 1.70. Annovis Bio has a one year low of $4.53 and a one year high of $22.49.

Annovis Bio (NYSE:ANVS) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.33). Research analysts anticipate that Annovis Bio will post -1.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenwich Wealth Management LLC lifted its position in shares of Annovis Bio by 19.9% during the 2nd quarter. Greenwich Wealth Management LLC now owns 15,075 shares of the company’s stock valued at $87,000 after buying an additional 2,500 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Annovis Bio in the second quarter valued at $115,000. Cetera Advisors LLC bought a new stake in shares of Annovis Bio during the 1st quarter valued at $122,000. Quest Partners LLC bought a new position in Annovis Bio in the 3rd quarter worth about $371,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Annovis Bio by 6.1% in 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 in the last quarter. 15.83% of the stock is currently owned by hedge funds and other institutional investors.

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.