Canaccord analyst Sumant Kulkarni lowered the firm’s price target on Annovis Bio to $26 from $36 and keeps a Buy rating on the shares. The firm noted investor skepticim on its Alzheimer data from yesterday means its upcoming Parkinson’s readout becomes even more improtant as the company has a cash runway into June. Canaccord said they continue to believe Annovis Bio shares, at current levels, present opportunity for nimble/ risk-tolerant investors especially if the Parkinson’s data turns out to be good.
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