HC Wainwright Comments on Annexon, Inc.’s Q1 2024 Earnings (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX) – Equities researchers at HC Wainwright issued their Q1 2024 earnings per share estimates for shares of Annexon in a report released on Wednesday, March 27th. HC Wainwright analyst A. Fein expects that the company will earn ($0.35) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Annexon’s current full-year earnings is ($1.65) per share. HC Wainwright also issued estimates for Annexon’s Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.38) EPS and FY2028 earnings at $1.17 EPS.

Other analysts have also recently issued reports about the company. Bank of America upgraded Annexon from a “neutral” rating to a “buy” rating and upped their target price for the company from $4.00 to $6.00 in a report on Thursday, December 21st. Wells Fargo & Company increased their price target on Annexon from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised Annexon from a “neutral” rating to an “overweight” rating and set a $11.00 price objective for the company in a research report on Friday, March 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $13.57.

Annexon Price Performance

NASDAQ ANNX opened at $7.81 on Thursday. The business has a fifty day moving average price of $5.29 and a 200 day moving average price of $3.65. Annexon has a one year low of $1.57 and a one year high of $8.40.

Insider Buying and Selling at Annexon

In other Annexon news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the transaction, the chief executive officer now directly owns 196,121 shares of the company’s stock, valued at approximately $1,086,510.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 8,940 shares of company stock valued at $49,514 in the last three months. 19.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently made changes to their positions in ANNX. JPMorgan Chase & Co. boosted its stake in shares of Annexon by 23.9% in the 1st quarter. JPMorgan Chase & Co. now owns 91,090 shares of the company’s stock valued at $249,000 after buying an additional 17,550 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Annexon in the 1st quarter valued at about $388,000. Vanguard Group Inc. boosted its stake in shares of Annexon by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 1,095,032 shares of the company’s stock valued at $2,990,000 after buying an additional 19,722 shares during the period. Federated Hermes Inc. boosted its stake in shares of Annexon by 50.7% in the 1st quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company’s stock valued at $8,334,000 after buying an additional 1,027,051 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Annexon in the 1st quarter valued at about $100,000.

About Annexon

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.