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

Annexon, Inc. (NASDAQ:ANNX) – Analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for Annexon in a report issued on Wednesday, March 27th. HC Wainwright analyst A. Fein forecasts that the company will post earnings of ($0.35) per share for the quarter. HC Wainwright has a “Buy” rating and a $30.00 price target 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.

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Wednesday. Bank of America lifted their price target on shares of Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price objective on shares of Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Annexon from a “neutral” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.14.

Annexon Price Performance

Shares of Annexon stock opened at $7.17 on Thursday. The business has a 50 day moving average price of $5.35 and a 200 day moving average price of $3.67. The company has a market capitalization of $381.73 million, a P/E ratio of -4.03 and a beta of 1.10. Annexon has a 1 year low of $1.57 and a 1 year high of $8.40.

Hedge Funds Weigh In On Annexon

Several institutional investors have recently made changes to their positions in ANNX. Quantbot Technologies LP boosted its holdings in shares of Annexon by 630.8% during the first quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock valued at $25,000 after acquiring an additional 8,200 shares during the period. Tower Research Capital LLC TRC raised its position in Annexon by 31.3% in the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after acquiring an additional 1,903 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Annexon in the 1st quarter valued at about $41,000. Hsbc Holdings PLC bought a new position in shares of Annexon during the 3rd quarter valued at about $45,000. Finally, Bank of America Corp DE grew its stake in shares of Annexon by 29.7% in the 4th quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock worth $46,000 after purchasing an additional 2,049 shares during the last quarter.

Insider Transactions at Annexon

In other Annexon news, CEO Douglas Love sold 5,782 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the transaction, the chief executive officer now owns 196,121 shares of the company’s stock, valued at approximately $1,086,510.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 8,940 shares of company stock valued at $49,514. Insiders own 19.11% of the company’s stock.

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.