HC Wainwright Reiterates Buy Rating for Annexon (NASDAQ:ANNX)

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 434.76% from the stock’s previous close. HC Wainwright also issued estimates for Annexon’s FY2028 earnings at $1.00 EPS.

Several other equities analysts also recently issued reports on ANNX. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Annexon in a report on Tuesday, June 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Wednesday, June 5th. Finally, Wells Fargo & Company reduced their price target on Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $15.33.

Annexon Stock Down 1.3 %

Shares of Annexon stock opened at $5.61 on Tuesday. The firm has a market cap of $518.44 million, a P/E ratio of -3.73 and a beta of 1.29. Annexon has a fifty-two week low of $1.57 and a fifty-two week high of $8.40. The business has a 50-day moving average price of $5.53 and a 200 day moving average price of $5.37.

Annexon (NASDAQ:ANNX) last released its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, meeting the consensus estimate of ($0.23). As a group, equities research analysts anticipate that Annexon will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ANNX. Ameritas Investment Partners Inc. boosted its stake in Annexon by 78.2% during the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after buying an additional 2,949 shares in the last quarter. Sandia Investment Management LP acquired a new position in Annexon in the second quarter worth approximately $49,000. Victory Capital Management Inc. bought a new position in shares of Annexon in the second quarter valued at $51,000. Tower Research Capital LLC TRC lifted its position in shares of Annexon by 53.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after acquiring an additional 4,141 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Annexon during the second quarter valued at $56,000.

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.