Addex Therapeutics (NASDAQ:ADXN) Trading 2% Higher – Here’s Why

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN)’s share price was up 2% on Monday . The company traded as high as $7.46 and last traded at $7.3560. Approximately 11,289 shares traded hands during mid-day trading, an increase of 213% from the average daily volume of 3,611 shares. The stock had previously closed at $7.21.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Addex Therapeutics in a research note on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Addex Therapeutics currently has an average rating of “Sell”.

Addex Therapeutics Stock Performance

The firm has a market cap of $9.05 million, a price-to-earnings ratio of -1.28 and a beta of 1.46. The company’s fifty day moving average is $7.85 and its two-hundred day moving average is $8.36.

Addex Therapeutics Company Profile

Addex Therapeutics SA is a clinical-stage biopharmaceutical company specializing in the discovery and development of small-molecule allosteric modulators for central nervous system disorders. Founded in 1999 and headquartered in Geneva, Switzerland, with a U.S. research presence in Cambridge, Massachusetts, the company focuses on targeting metabotropic glutamate (mGlu) receptors and GABAB receptors to address unmet medical needs in neurology and psychiatry.

The company’s lead candidate, dipraglurant (ADX48621), is an mGlu5 negative allosteric modulator in clinical development for levodopa-induced dyskinesia in Parkinson’s disease.