FY2029 Earnings Estimate for Annexon Issued By HC Wainwright

Annexon, Inc. (NASDAQ:ANNX) – Analysts at HC Wainwright lifted their FY2029 earnings per share (EPS) estimates for shares of Annexon in a research report issued to clients and investors on Tuesday, November 10th. HC Wainwright analyst A. Ghosh now anticipates that the company will post earnings of $0.65 per share for the year, up from their prior forecast of $0.58. HC Wainwright currently has a “Buy” rating and a $14.00 target price on the stock. The consensus estimate for Annexon’s current full-year earnings is ($1.05) per share.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Annexon from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Wall Street Zen cut Annexon from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Citigroup started coverage on Annexon in a research report on Tuesday, July 21st. They issued a “market underperform” rating on the stock. Needham & Company LLC increased their target price on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.29.

Annexon Price Performance

Shares of ANNX stock opened at $4.21 on Wednesday. The company’s 50-day moving average is $4.08 and its 200 day moving average is $5.15. Annexon has a one year low of $2.54 and a one year high of $7.18.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.03.

Insider Buying and Selling

In other Annexon news, CEO Douglas Love bought 26,065 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was acquired at an average price of $3.83 per share, with a total value of $99,828.95. Following the transaction, the chief executive officer owned 390,476 shares in the company, valued at $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.31% of the company’s stock.

Institutional Trading of Annexon

A number of institutional investors have recently made changes to their positions in the stock. Redmile Group LLC grew its stake in shares of Annexon by 44.8% in the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after acquiring an additional 4,499,124 shares during the period. BlackRock Inc. bought a new position in Annexon during the second quarter valued at approximately $77,312,000. Bank of America Corp DE lifted its position in Annexon by 165.3% during the first quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock valued at $23,600,000 after purchasing an additional 2,654,414 shares during the period. Siren L.L.C. bought a new position in Annexon during the first quarter valued at approximately $21,931,000. Finally, Palo Alto Investors LP purchased a new stake in Annexon in the second quarter worth approximately $16,833,594.

About Annexon

Annexon is a clinical-stage biopharmaceutical company developing antibody-based therapies for diseases driven by the complement system, a part of the immune system involved in inflammation and tissue damage. The company focuses on the classical complement pathway, which it aims to inhibit selectively. Its investigational programs are designed for complement-related autoimmune, inflammatory and neurodegenerative conditions. These include treatments being studied for disorders affecting the nervous system and the eye.