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

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 318.41% from the stock’s current price. HC Wainwright also issued estimates for Annexon’s Q1 2024 earnings at ($0.35) EPS, Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.38) EPS and FY2028 earnings at $1.17 EPS.

Several other equities analysts have also weighed in on ANNX. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Wednesday. Bank of America raised Annexon from a “neutral” rating to a “buy” rating and increased their target price for the company from $4.00 to $6.00 in a research note on Thursday, December 21st. Finally, JPMorgan Chase & Co. raised Annexon from a “neutral” rating to an “overweight” rating and set a $11.00 price target on the stock in a research report on Friday, March 1st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.14.

Annexon Trading Down 8.2 %

NASDAQ:ANNX opened at $7.17 on Wednesday. Annexon has a 1-year low of $1.57 and a 1-year high of $8.40. The business’s 50-day moving average price is $5.35 and its two-hundred day moving average price is $3.67. The firm has a market capitalization of $381.73 million, a price-to-earnings ratio of -4.03 and a beta of 1.10.

Insider Transactions at Annexon

In other news, CEO Douglas Love sold 5,782 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the sale, the chief executive officer now owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 8,940 shares of company stock valued at $49,514 over the last 90 days. 19.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of Annexon by 31.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after buying an additional 1,903 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Annexon by 29.7% during the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock worth $46,000 after buying an additional 2,049 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Annexon by 3.2% during the first quarter. Citigroup Inc. now owns 83,074 shares of the company’s stock worth $320,000 after buying an additional 2,565 shares in the last quarter. SG Americas Securities LLC grew its stake in Annexon by 14.1% in the fourth quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock valued at $115,000 after purchasing an additional 3,123 shares in the last quarter. Finally, Forefront Analytics LLC grew its stake in Annexon by 18.3% in the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock valued at $75,000 after purchasing an additional 4,890 shares in the last quarter.

Annexon Company Profile

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.