Maxim Group analyst Jason McCarthy has maintained their bullish stance on ANVS stock, giving a Buy rating on September 29.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight the promising potential of Annovis Bio’s drug, Buntanetap, in treating Alzheimer’s disease. The recent biomarker data from the Phase 2/3 study demonstrated a reduction in key inflammatory markers and neurofilament light chain (NfL), suggesting a disease-modifying effect that could slow the progression of Alzheimer’s. This data, combined with previously observed cognitive improvements in mild Alzheimer’s patients, supports the drug’s multifactorial approach to addressing the disease.
Furthermore, the ongoing Phase 3 study, which began in January, is designed to further explore the long-term impact of Buntanetap over an 18-month period. The study’s focus on biomarker-positive early Alzheimer’s patients and the drug’s mechanism of action, which targets the synthesis of neurotoxic proteins, provide additional confidence in its potential efficacy. These factors collectively contribute to McCarthy’s positive outlook on Annovis Bio’s stock, justifying the Buy rating.
In another report released on September 29, Canaccord Genuity also maintained a Buy rating on the stock with a $17.00 price target.