FY2029 Earnings Forecast for Annexon Issued By HC Wainwright

Annexon, Inc. (NASDAQ:ANNX) – Research analysts at HC Wainwright boosted their FY2029 earnings per share (EPS) estimates for shares of Annexon in a report released on Tuesday, November 10th. HC Wainwright analyst A. Ghosh now forecasts that the company will earn $0.65 per share for the year, up from their previous estimate 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.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.03.

ANNX has been the topic of several other reports. Citigroup started coverage on shares of Annexon in a research note on Tuesday, July 21st. They set a “market underperform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Thursday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of Annexon from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, September 30th. Citizens Jmp raised shares of Annexon from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen lowered shares of Annexon from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Annexon presently has a consensus rating of “Hold” and a consensus price target of $15.29.

Annexon Stock Down 0.5%

Shares of ANNX opened at $4.21 on Wednesday. The stock has a 50 day simple moving average of $4.08 and a two-hundred day simple moving average of $5.15. Annexon has a 1 year low of $2.54 and a 1 year high of $7.18.

Institutional Investors Weigh In On Annexon

Several institutional investors and hedge funds have recently bought and sold shares of ANNX. Redmile Group LLC raised its holdings in shares of Annexon by 44.8% during the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock valued at $80,606,000 after acquiring an additional 4,499,124 shares in the last quarter. BlackRock Inc. bought a new stake in Annexon in the second quarter valued at $77,312,000. Bank of America Corp DE increased its position in Annexon by 165.3% during the 1st 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. purchased a new position in Annexon during the 1st quarter valued at $21,931,000. Finally, Palo Alto Investors LP bought a new position in Annexon in the 2nd quarter worth $16,833,594.

Insider Activity

In other Annexon news, CEO Douglas Love bought 26,065 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average cost of $3.83 per share, with a total value of $99,828.95. Following the completion of the purchase, the chief executive officer directly owned 390,476 shares of the company’s stock, valued at $1,495,523.08. This trade represents a 7.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 10.31% of the stock is owned by insiders.

Annexon Company Profile

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.