Annovis Bio (ANVS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $23.00 price target.
Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Annovis Bio’s prospects and recent developments. A pivotal aspect is the imminent release of top-line data from Annovis Bio’s Phase 3 study of buntanetap in early-stage Parkinson’s Disease (PD), which is expected to be positive. Despite a delay caused by an unexpected issue with pharmacokinetic measurements, the company resolved the problem and is now poised to present results. This trial, being a randomized, double-blind, placebo-controlled study, is critical for the drug’s future and could position Annovis Bio favorably in the PD treatment market.
Moreover, Selvaraju’s analysis includes a consideration of Annovis Bio’s financial status. Although he acknowledges the need for further capital—anticipating equity dilution due to limited funds to sustain operations—he maintains a positive outlook on the company’s potential, factoring in the recent financial results and adjusted expense projections. Despite lowering the price target from $30 to $23, Selvaraju reiterates the Buy rating, indicating his belief in the company’s value proposition and the potential market introduction of buntanetap for PD treatment by 2027.
In another report released on April 30, Canaccord Genuity also maintained a Buy rating on the stock with a $26.00 price target.
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Annovis Bio (ANVS) Company Description:
Annovis Bio Inc is a United States based clinical stage pharmaceutical company focused on developing and commercializing drugs for the treatment of Parkinson’s and Alzheimer’s diseases and other neuro degenerative diseases. The pipeline products of the company include ANVS-401, ANVS-405 and ANVS-301.
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