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

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

Annovis Bio Stock Performance

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

Wall Street Analysts Forecast Growth

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