Annexon (NASDAQ:ANNX) Upgraded at Citizens Jmp

Key Points

• Citizens JMP upgraded Annexon from “underperform” to “market perform,” while broader analyst sentiment remains “Hold,” with five Buy, three Hold and two Sell ratings and an average price target of $15.33.
• Annexon shares opened at $5.33 and have traded between $2.03 and $7.18 over the past year. The company reported a quarterly loss of $0.28 per share, missing the $0.24 consensus estimate.
• Investors are focused on upcoming clinical and funding catalysts, including potential 2026 data and regulatory milestones for its therapies, while a credit facility of up to $200 million and existing cash are expected to fund operations into 2028.

Annexon (NASDAQ:ANNX - Get Free Report) was upgraded by equities research analysts at Citizens Jmp from an "underperform" rating to a "market perform" rating in a research note issued to investors on Thursday, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on ANNX. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a report on Monday, July 13th. Needham & Company LLC raised their price target on shares of Annexon from $11.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Annexon in a research note on Monday, July 20th. Wall Street Zen cut Annexon from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Annexon in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.33.

Annexon Trading Down 0.2%

NASDAQ:ANNX opened at $5.33 on Thursday. Annexon has a 12 month low of $2.03 and a 12 month high of $7.18. The stock has a market capitalization of $873.27 million, a price-to-earnings ratio of -4.37 and a beta of 1.18. The firm has a fifty day simple moving average of $5.35 and a two-hundred day simple moving average of $5.53.

Annexon (NASDAQ:ANNX - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.04). Equities analysts predict that Annexon will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Annexon

In related news, Director Muneer A. Satter acquired 613,497 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the completion of the acquisition, the director owned 10,342,134 shares of the company's stock, valued at approximately $55,950,944.94. This represents a 6.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.31% of the company's stock.

Institutional Trading of Annexon

A number of large investors have recently bought and sold shares of ANNX. Redmile Group LLC boosted its position in Annexon by 44.8% during the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company's stock worth $80,606,000 after purchasing an additional 4,499,124 shares during the period. BlackRock Inc. purchased a new stake in shares of Annexon in the second quarter worth about $77,312,000. BVF Inc. IL grew its stake in Annexon by 30.4% during the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company's stock valued at $45,823,000 after acquiring an additional 2,128,080 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Annexon by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company's stock valued at $17,797,000 after purchasing an additional 469,073 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Annexon by 266.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company's stock worth $27,610,000 after purchasing an additional 4,000,000 shares during the period.

Trending Headlines about Annexon

Here are the key news stories impacting Annexon this week:

• Positive Sentiment: Annexon reported rapid improvements in strength and disability among the first 10 patients in the FORWARD study of tanruprubart for Guillain-Barré syndrome. The company expects to submit a U.S. Biologics License Application in the fourth quarter of 2026, providing a potentially important regulatory catalyst. Annexon Reports Second Quarter 2026 Financial Results, Business Updates and Key Anticipated Milestones
• Positive Sentiment: The company expanded the Phase 3 ARCHER II trial of vonaprument in geographic atrophy by adding a Month 24 dual primary endpoint alongside the Month 15 endpoint. This gives the study two independent efficacy time points while preserving the Month 15 data readout expected in the fourth quarter of 2026. An open-label extension study will assess longer-term safety and potential vision-preservation benefits. Annexon Expands Vonaprument Phase 3 Program
• Positive Sentiment: Annexon secured access to a credit facility of up to $200 million, with $50 million initially drawn. Combined with $209.2 million in cash, cash equivalents and short-term investments at June 30, management expects funding to support operations and milestones into 2028.
• Neutral Sentiment: Unusually high call-option activity and reported insider purchases suggest some bullish positioning, but these trading signals do not establish future clinical or commercial success.
• Negative Sentiment: Second-quarter adjusted results were weaker than expected: Annexon posted a loss of $0.28 per share versus the $0.24 consensus estimate. The net loss increased to $55.3 million from $49.2 million a year earlier, while research and development expenses rose to $46.6 million. The earnings shortfall appears to be the immediate reason shares came under pressure. Annexon shares fall as second-quarter loss exceeds Wall Street forecasts
• Negative Sentiment: Annexon remains an unprofitable, clinical-stage biotechnology company dependent on financing and successful trial results. The added Month 24 ARCHER II analysis extends the full data timeline into the third quarter of 2027, leaving investors exposed to development and regulatory risks beyond the nearer-term Month 15 readout.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company's research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon's pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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