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

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

Annovis Bio Stock Performance

ANVS stock traded down $0.58 during midday trading on Monday, hitting $7.58. 605,237 shares of the company’s stock were exchanged, compared to its average volume of 356,884. The stock’s fifty day moving average price is $8.53 and its 200-day moving average price is $8.39. Annovis Bio has a one year low of $4.53 and a one year high of $22.49.

Wall Street Analyst Weigh In

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

About Annovis Bio

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.