Annexon (NASDAQ:ANNX) Upgraded to Market Perform at Citizens Jmp

Annexon (NASDAQ:ANNX) was upgraded by research analysts at Citizens Jmp from an “underperform” rating to a “market perform” rating in a research report issued on Thursday, Marketbeat Ratings reports.

Several other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Annexon from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Monday, July 13th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Annexon in a research report on Monday, July 20th. Citigroup assumed coverage on shares of Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.33.

Annexon Trading Down 0.2%

Shares of NASDAQ ANNX opened at $5.33 on Thursday. The stock’s 50-day moving average is $5.35 and its 200 day moving average is $5.53. The stock has a market cap of $873.27 million, a price-to-earnings ratio of -4.37 and a beta of 1.18. Annexon has a 1-year low of $2.03 and a 1-year high of $7.18.

Annexon (NASDAQ:ANNX) last issued its earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). On average, analysts forecast that Annexon will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Annexon

In related news, Director Muneer A. Satter purchased 613,497 shares of Annexon stock in a transaction that occurred on Thursday, May 28th. The shares were bought at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the completion of the transaction, the director directly owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. This represents a 6.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.31% of the company’s stock.

Institutional Investors Weigh In On Annexon

Several hedge funds have recently made changes to their positions in ANNX. BlackRock Inc. purchased a new stake in shares of Annexon in the 2nd quarter worth about $77,312,000. Redmile Group LLC increased its stake in shares of Annexon by 44.8% in the 1st 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 in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Annexon by 266.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock valued at $27,610,000 after acquiring an additional 4,000,000 shares during the period. Siren L.L.C. purchased a new position in Annexon during the 1st quarter valued at about $21,931,000. Finally, Mak Capital One LLC bought a new stake in Annexon during the fourth quarter worth about $14,852,000.

Key Annexon News

Here are the key news stories impacting Annexon this week:

• Positive Sentiment: Annexon reported rapid improvements in strength and disability among the first 10 patients in the FORWARD study of tanruprubart for Guillain-Barré syndrome. The company expects to submit a U.S. Biologics License Application in the fourth quarter of 2026, providing a potentially important regulatory catalyst. Annexon Reports Second Quarter 2026 Financial Results, Business Updates and Key Anticipated Milestones
• Positive Sentiment: The company expanded the Phase 3 ARCHER II trial of vonaprument in geographic atrophy by adding a Month 24 dual primary endpoint alongside the Month 15 endpoint. This gives the study two independent efficacy time points while preserving the Month 15 data readout expected in the fourth quarter of 2026. An open-label extension study will assess longer-term safety and potential vision-preservation benefits. Annexon Expands Vonaprument Phase 3 Program
• Positive Sentiment: Annexon secured access to a credit facility of up to $200 million, with $50 million initially drawn. Combined with $209.2 million in cash, cash equivalents and short-term investments at June 30, management expects funding to support operations and milestones into 2028.
• Neutral Sentiment: Unusually high call-option activity and reported insider purchases suggest some bullish positioning, but these trading signals do not establish future clinical or commercial success.
• Negative Sentiment: Second-quarter adjusted results were weaker than expected: Annexon posted a loss of $0.28 per share versus the $0.24 consensus estimate. The net loss increased to $55.3 million from $49.2 million a year earlier, while research and development expenses rose to $46.6 million. The earnings shortfall appears to be the immediate reason shares came under pressure. Annexon shares fall as second-quarter loss exceeds Wall Street forecasts
• Negative Sentiment: Annexon remains an unprofitable, clinical-stage biotechnology company dependent on financing and successful trial results. The added Month 24 ARCHER II analysis extends the full data timeline into the third quarter of 2027, leaving investors exposed to development and regulatory risks beyond the nearer-term Month 15 readout.

About Annexon

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.