Canaccord Genuity Maintains Buy on Annovis Bio, Lowers Price Target to $26
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst Sumant Kulkarni has maintained a Buy rating on Annovis Bio (ANVS) but lowered the price target from $36 to $26.

April 30, 2024 | 12:02 pm
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Annovis Bio's Buy rating is maintained by Canaccord Genuity, though its price target has been reduced from $36 to $26.
The reduction in price target by Canaccord Genuity, despite maintaining a Buy rating, could lead to short-term negative sentiment among investors, potentially impacting ANVS's stock price negatively in the short term. The significant drop in the price target reflects a change in the analyst's valuation model or expectations, which could be interpreted by the market as a decrease in future growth prospects or increased risk.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100