Addex Therapeutics (NASDAQ:ADXN) Trading Up 9.7% – Here’s What Happened

Addex Therapeutics Ltd (NASDAQ:ADXN) traded up 9.7% on Friday . The company traded as high as $11.11 and last traded at $10.70. 16,813 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 99,897 shares. The stock had previously closed at $9.75.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Addex Therapeutics in a research report on Wednesday, October 2nd.

Addex Therapeutics Trading Up 9.7 %

The company has a market capitalization of $11.34 million, a P/E ratio of -6.52 and a beta of 1.78. The stock’s fifty day moving average is $10.28 and its 200 day moving average is $9.57.

Addex Therapeutics (NASDAQ:ADXN) last issued its quarterly earnings data on Monday, September 30th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($0.07) by ($1.70). The firm had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.26 million. Addex Therapeutics had a net margin of 463.11% and a negative return on equity of 190.29%. On average, analysts expect that Addex Therapeutics Ltd will post 9.8 EPS for the current fiscal year.

About Addex Therapeutics

Addex Therapeutics Ltd discovers, develops, and commercializes small-molecule pharmaceutical products for central nervous system (CNS) disorders in Switzerland. The company focuses on the discovery of G-protein coupled receptors and enzymes. Its lead programs include Dipraglurant for the treatment of Parkinson's disease levodopa-induced dyskinesia and dystonia, and post-stroke/TBI recovery; ADX71149, a novel orally active metabotropic glutamate receptor subtype 2 positive allosteric modulator (mGlu2 PAM) for the treatment of epilepsy; and GABAB PAM for the treatment of pain, anxiety, overactive bladder, and addiction, as well as substance use disorder.