Annovis Bio price target raised to $30 from $23 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Annovis Bio to $30 from $23 and keeps a Buy rating on the shares. The company earlier this month reported new data from its Phase 3 Parkinson’s study demonstrating that buntanetap is safe and effective in improving motor and nonmotor activities and improving cognitive functions in patients with early Parkinson’s disease, the analyst tells investors in a research note. Following the data, the firm raised the probability of approval for buntanetap in Parkinson’s to 50% from 40%.