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

Zacks Investment Research upgraded shares of Addex Therapeutics (NASDAQ:ADXN – Get Rating) from a hold rating to a buy rating in a report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $4.50 price objective on the stock.

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 shares of Addex Therapeutics from $28.00 to $21.00 and set a buy rating for the company in a report on Friday, February 11th.

Addex Therapeutics stock opened at $4.17 on Tuesday. The firm has a 50 day simple moving average of $4.75 and a 200-day simple moving average of $5.83. Addex Therapeutics has a 12-month low of $3.76 and a 12-month high of $11.48.

Addex Therapeutics (NASDAQ:ADXN – Get Rating) last posted its quarterly earnings data on Thursday, March 10th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.17). The company had revenue of $0.44 million during the quarter, compared to the consensus estimate of $0.52 million. Addex Therapeutics had a negative net margin of 748.78% and a negative return on equity of 123.92%. As a group, sell-side analysts anticipate that Addex Therapeutics will post -2.07 EPS for the current fiscal 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.

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