Cantor Fitzgerald Comments on Annexon, Inc.’s FY2024 Earnings (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX) – Stock analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for shares of Annexon in a research note issued on Tuesday, May 14th. Cantor Fitzgerald analyst P. Stavropoulos now anticipates that the company will earn ($0.88) per share for the year, up from their prior forecast of ($1.38). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Annexon’s current full-year earnings is ($1.12) per share.

Several other research firms have also recently issued reports on ANNX. Wells Fargo & Company lowered their price objective on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday. Bank of America upped their target price on Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. lifted their price objective on Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, April 1st. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Annexon in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Annexon in a research report on Monday, May 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.14.

Annexon Trading Down 0.7 %

Shares of ANNX opened at $4.33 on Thursday. The firm has a fifty day moving average price of $5.49 and a 200-day moving average price of $4.45. The firm has a market capitalization of $400.14 million, a P/E ratio of -2.95 and a beta of 1.29. Annexon has a 12-month low of $1.57 and a 12-month high of $8.40.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.11.

Institutional Investors Weigh In On Annexon

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank purchased a new stake in shares of Annexon during the 1st quarter valued at $72,000. Bain Capital Life Sciences Investors LLC grew its stake in shares of Annexon by 8.0% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock worth $62,402,000 after acquiring an additional 641,549 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of Annexon during the first quarter valued at about $119,000. Bellevue Group AG purchased a new position in shares of Annexon in the 1st quarter valued at approximately $15,647,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Annexon by 10,482.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after purchasing an additional 1,311,195 shares in the last quarter.

Annexon Company Profile

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.