Annexon (NASDAQ:ANNX) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Annexon (NASDAQ:ANNX) in a report issued on Tuesday, Benzinga reports. The firm currently has a $30.00 price target on the stock. HC Wainwright also issued estimates for Annexon’s Q2 2024 earnings at ($0.22) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($0.90) EPS, FY2025 earnings at ($0.55) EPS, FY2027 earnings at $0.71 EPS and FY2028 earnings at $1.14 EPS.

Several other research analysts also recently commented on ANNX. JPMorgan Chase & Co. lifted their price target on Annexon from $11.00 to $13.00 and gave the stock an overweight rating in a research report on Monday, April 1st. Bank of America upped their target price on shares of Annexon from $7.00 to $10.00 and gave the company a buy rating in a research note on Thursday, March 28th. Wells Fargo & Company raised their price target on shares of Annexon from $11.00 to $12.00 and gave the stock an overweight rating in a research report on Wednesday, March 27th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Annexon in a research report on Wednesday, April 24th. Finally, Needham & Company LLC reissued a buy rating and set a $16.00 target price on shares of Annexon in a research report on Monday, May 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $14.14.

Annexon Stock Performance

ANNX opened at $4.33 on Tuesday. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40. The business has a 50 day moving average price of $5.49 and a 200 day moving average price of $4.45. The firm has a market cap of $400.14 million, a P/E ratio of -2.95 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. As a group, analysts anticipate that Annexon will post -1.12 earnings per share for the current fiscal year.

Institutional Trading of Annexon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. SG Americas Securities LLC bought a new position in Annexon during the third quarter worth about $52,000. Forefront Analytics LLC raised its holdings in shares of Annexon by 18.3% in the 3rd quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock worth $75,000 after buying an additional 4,890 shares in the last quarter. Silverarc Capital Management LLC lifted its position in shares of Annexon by 2.5% during the 3rd quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock worth $943,000 after buying an additional 9,805 shares during the period. Kennedy Capital Management LLC acquired a new stake in Annexon in the 3rd quarter valued at $2,306,000. Finally, Sectoral Asset Management Inc. grew its position in Annexon by 33.2% in the third quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock valued at $2,121,000 after acquiring an additional 224,156 shares during the period.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.