Addex Therapeutics (NASDAQ:ADXN) Upgraded to Buy at Zacks Investment Research

Addex Therapeutics (NASDAQ:ADXN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, reports. The firm currently has a $11.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 17.18% from the stock’s current price.

According to Zacks, “Addex Therapeutics Ltd is a clinical-stage pharmaceutical company. It is focused on the development and commercialization of small molecule drugs for neurological disorders. The company’s lead drug candidate includes dipraglurant, ADX71149 which are in clinical stage. Its Preclinical programs include GABAB PAM for CMT1A, mGlu7 NAM for PTSD, mGlu2 NAM for mild neurocognitive disorders, mGlu4 PAM for Parkinson’s disease and mGlu3 PAM for neurodegenerative disorders. GABAB PAM program has been licensed to Indivior PLC for the treatment of addiction. Addex Therapeutics Ltd is based in Geneva, Switzerland. “

Separately, HC Wainwright reaffirmed a “buy” rating and set a $28.00 target price on shares of Addex Therapeutics in a research report on Tuesday, June 29th.

Addex Therapeutics stock traded up $0.29 during mid-day trading on Thursday, hitting $9.39. 1,376 shares of the company’s stock traded hands, compared to its average volume of 6,260. The company has a 50 day moving average price of $9.97. The firm has a market cap of $77.07 million, a P/E ratio of -3.62 and a beta of 2.17. Addex Therapeutics has a one year low of $7.00 and a one year high of $37.52.

Addex Therapeutics (NASDAQ:ADXN) last announced its earnings results on Wednesday, May 5th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.12. The company had revenue of $0.93 million for the quarter, compared to analyst estimates of $0.76 million. Addex Therapeutics had a negative return on equity of 64.46% and a negative net margin of 294.88%. As a group, equities analysts forecast that Addex Therapeutics will post -2.34 earnings per share for the current year.

A hedge fund recently bought a new stake in Addex Therapeutics stock. Citadel Advisors LLC purchased a new stake in shares of Addex Therapeutics Ltd (NASDAQ:ADXN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,604 shares of the company’s stock, valued at approximately $121,000. Citadel Advisors LLC owned approximately 0.14% of Addex Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 3.41% of the company’s stock.

About Addex Therapeutics

Addex Therapeutics Ltd, a development-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule pharmaceutical products for central nervous system (CNS) disorders in Switzerland. The company focuses on the discovery of oral small molecule allosteric modulators of G-protein coupled receptors.

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