Addex Therapeutics (NASDAQ:ADXN) Upgraded by Zacks Investment Research to “Buy”

Addex Therapeutics (NASDAQ:ADXNGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $4.50 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.22% from the company’s current price.

According to Zacks, “Addex Therapeutics Ltd is a clinical-stage pharmaceutical company. It is focused on the development and commercialization of small molecule drugs for neurological disorders. The company’s lead drug candidate includes dipraglurant, ADX71149 which are in clinical stage. Its Preclinical programs include GABAB PAM for CMT1A, mGlu7 NAM for PTSD, mGlu2 NAM for mild neurocognitive disorders, mGlu4 PAM for Parkinson’s disease and mGlu3 PAM for neurodegenerative disorders. GABAB PAM program has been licensed to Indivior PLC for the treatment of addiction. Addex Therapeutics Ltd is based in Geneva, Switzerland. “

Separately, HC Wainwright reduced their target price on Addex Therapeutics from $28.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 11th.

ADXN stock traded down $0.29 during trading on Tuesday, hitting $4.01. The company had a trading volume of 406 shares, compared to its average volume of 3,889. The stock has a 50-day moving average price of $4.83. Addex Therapeutics has a one year low of $4.00 and a one year high of $11.48. The firm has a market cap of $43.62 million, a PE ratio of -1.22 and a beta of 1.57.

Addex Therapeutics (NASDAQ:ADXNGet Rating) last announced its earnings results on Thursday, March 10th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.17). Addex Therapeutics had a negative net margin of 748.78% and a negative return on equity of 118.46%. The company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $0.52 million. As a group, research analysts expect that Addex Therapeutics will post -2.07 earnings per share for the current year.

About Addex Therapeutics (Get Rating)

Addex Therapeutics Ltd, a development-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule pharmaceutical products for central nervous system (CNS) disorders in Switzerland. The company focuses on the discovery of oral small molecule allosteric modulators of G-protein coupled receptors.

Further Reading

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