Bullish indicating open at $55-$60, IPO prices at $37
On Monday, H.C. Wainwright adjusted its price target for Annovis Bio Inc . (NYSE:ANVS), reducing it significantly to $12.00 from the previous $30.00. Despite the decrease, the firm maintained its Buy rating on the company’s shares. Currently trading at $3.21, with a market capitalization of $62.55 million, ANVS has shown significant volatility, posting a 21.59% gain over the past week despite a 47.97% decline over the past year. According to InvestingPro analysis, the stock is currently fairly valued. The revision comes in the wake of Annovis Bio’s recent equity financing in February and the potential for future equity issuances along with the exercise of warrants.
The Phase 3 trial for buntanetap, Annovis Bio’s investigational drug for early Alzheimer’s disease, is ongoing. This pivotal study is a randomized, placebo-controlled, double-blind trial aiming to establish the safety and efficacy of a daily dose of buntanetap in approximately 750 patients. The trial spans about 100 clinical sites within the United States. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 10.68, and holds more cash than debt on its balance sheet, providing financial flexibility for the trial’s completion.
Patients enrolled in the study will undergo an 18-month treatment period, which includes a six-month assessment of symptomatic effects and a subsequent 12-month evaluation to determine buntanetap’s potential disease-modifying effects. The primary outcomes of this trial will focus on cognitive and functional abilities, measured by the Alzheimer’s Disease Assessment Scale-Cognitive 13 (ADAS-Cog13) subscale and the Alzheimer’s Disease Cooperative Study-Instrumental Activities of Daily Living (ADCS-iADL) scale, respectively.
The analyst from H.C. Wainwright underscored the importance of the ongoing trial, stating, "We remind investors that enrollment continues in the pivotal Phase 3 study evaluating buntanetap in early Alzheimer’s disease (AD)." The firm stands by its Buy rating, yet acknowledges the need to adjust the price target to $12, reflecting recent financial activities by Annovis Bio and the potential impact on the company’s stock value. Analyst targets currently range from $8 to $20, with a consensus recommendation of 1.75 (Buy). InvestingPro subscribers can access 8 additional key insights about ANVS’s financial health and market performance.
In other recent news, Annovis Bio Inc. reported its first-quarter results for 2025, prompting Canaccord Genuity to adjust its price target for the company from $26 to $17 while maintaining a Buy rating. The revision reflects anticipated dilution from future financing as Annovis Bio seeks additional capital for its clinical programs. The company is currently progressing with its Phase 3 clinical trial for Alzheimer’s disease and recently appointed Hui Liu as Director of Biostatistics to enhance the integrity of its clinical data. This strategic hire is expected to support regulatory submissions as the company advances its pivotal trials. Additionally, Annovis Bio received a notification from the New York Stock Exchange regarding non-compliance with listing standards due to its market capitalization falling below the required $50 million threshold. The company plans to submit a proposal to regain compliance within 45 days, which will be reviewed by the exchange. During this period, Annovis Bio’s stock will continue to trade under its current symbol with a ".BC" indicator. These developments highlight the company’s ongoing efforts to address challenges while advancing its clinical and regulatory goals.
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