HC Wainwright Comments on Annexon, Inc.’s Q1 2024 Earnings (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX) – Equities researchers at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for Annexon in a research report issued to clients and investors on Wednesday, March 27th. HC Wainwright analyst A. Fein forecasts that the company will post earnings per share of ($0.35) for the quarter. HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Annexon’s current full-year earnings is ($1.65) per share. HC Wainwright also issued estimates for Annexon’s Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.38) EPS and FY2028 earnings at $1.17 EPS.

Several other brokerages have also recently commented on ANNX. JPMorgan Chase & Co. raised Annexon from a “neutral” rating to an “overweight” rating and set a $11.00 target price for the company in a research report on Friday, March 1st. Wells Fargo & Company lifted their price objective on Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Wednesday. Finally, Bank of America raised Annexon from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $6.00 in a research report on Thursday, December 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.57.

Annexon Stock Up 13.5 %

Shares of Annexon stock opened at $7.81 on Thursday. The business has a fifty day simple moving average of $5.29 and a 200-day simple moving average of $3.65. Annexon has a 12 month low of $1.57 and a 12 month high of $8.40.

Insiders Place Their Bets

In other news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the transaction, the chief executive officer now directly owns 196,121 shares in the company, valued at $1,086,510.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 8,940 shares of company stock valued at $49,514 over the last quarter. Insiders own 19.11% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in Annexon by 31.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock valued at $31,000 after acquiring an additional 1,903 shares during the period. Bank of America Corp DE increased its stake in Annexon by 29.7% during the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock valued at $46,000 after acquiring an additional 2,049 shares during the period. Citigroup Inc. increased its stake in Annexon by 3.2% during the first quarter. Citigroup Inc. now owns 83,074 shares of the company’s stock valued at $320,000 after acquiring an additional 2,565 shares during the period. SG Americas Securities LLC increased its stake in Annexon by 14.1% during the fourth quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock valued at $115,000 after acquiring an additional 3,123 shares during the period. Finally, Forefront Analytics LLC increased its stake in Annexon by 18.3% during the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock valued at $75,000 after acquiring an additional 4,890 shares during the period.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.