Annovis Bio Stock Surges As Analyst Reiterates ‘Buy’ On Alzheimer’s Drug Progress: Retail Stays Bullish

Shares of Annovis Bio, Inc. ($ANVS) surged more than 17% on Wednesday following an analyst’s reiteration of a ‘Buy’ rating and a $30 price target, which represents an upside of over 200% from current levels.

H.C. Wainwright analyst Ram Selvaraju based his bullish outlook on the advancement of Annovis Bio’s lead Alzheimer’s drug candidate, buntanetap.

The FDA recently granted clearance for the company to proceed to Phase 3 trials, following successful Phase 2 results that showed improvement in Alzheimer’s patients.

The analyst highlighted this regulatory clarity as a critical milestone, adding that the lack of safety concerns around the drug further reduces development risks.

Selvaraju also noted that if Annovis successfully files New Drug Applications (NDAs) for buntanetap, it could dramatically increase the company’s valuation. His $30 price target is supported by a discounted cash flow analysis.

On Stocktwits, retail sentiment for ANVS remained ‘bullish’ with ‘extremely high’ message volume following the company’s update.

On Tuesday, Annovis announced a successful End-of-Phase 2 meeting with the FDA, aligning both parties on a clear development path for buntanetap.

The Phase 3 program will consist of two trials: a 6-month study focusing on symptomatic improvement and an 18-month study aimed at evaluating potential disease-modifying effects.

Buntanetap’s multi-target approach seeks to reduce toxic proteins like amyloid, tau, and alpha-synuclein, providing a comprehensive treatment option for neurodegenerative diseases such as Alzheimer’s and Parkinson’s.

Still, ANVS stock remains down over 50% this year.

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