HC Wainwright Has Optimistic View of Annexon FY2030 Earnings

Key Points

• HC Wainwright raised its FY2030 EPS estimate for Annexon to $0.56 from $0.43, and that outlook is well above the current consensus estimate of a loss of $1.13 per share.
• Annexon beat its latest quarterly earnings expectations, reporting ($0.23) EPS versus the expected ($0.30), suggesting progress versus analyst forecasts.
• Wall Street sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $17.00, while the stock recently traded around $5.69.

Annexon, Inc. (NASDAQ:ANNX - Free Report) - Equities researchers at HC Wainwright increased their FY2030 EPS estimates for Annexon in a research report issued to clients and investors on Friday, May 8th. HC Wainwright analyst A. Ghosh now anticipates that the company will post earnings per share of $0.56 for the year, up from their prior estimate of $0.43. The consensus estimate for Annexon's current full-year earnings is ($1.13) per share.

Several other research analysts have also recently weighed in on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $16.00 price target on shares of Annexon in a report on Friday, March 20th. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a research report on Wednesday, January 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Annexon in a research note on Monday, April 20th. Finally, Wall Street Zen raised Annexon from a "sell" rating to a "hold" rating in a report on Saturday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Annexon Price Performance

NASDAQ ANNX opened at $5.69 on Monday. The company's 50 day simple moving average is $5.69 and its two-hundred day simple moving average is $5.08. Annexon has a 1 year low of $1.60 and a 1 year high of $7.18. The stock has a market capitalization of $932.25 million, a PE ratio of -4.66 and a beta of 1.22.

Annexon (NASDAQ:ANNX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.07.

Insider Transactions at Annexon

In related news, EVP Michael Overdorf sold 6,225 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total value of $31,747.50. Following the transaction, the executive vice president owned 124,464 shares of the company's stock, valued at $634,766.40. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jennifer Lew sold 7,851 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total value of $40,118.61. Following the sale, the chief financial officer owned 113,765 shares in the company, valued at $581,339.15. The trade was a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 32,513 shares of company stock worth $165,973. Company insiders own 12.67% of the company's stock.

Hedge Funds Weigh In On Annexon

A number of hedge funds and other institutional investors have recently modified their holdings of ANNX. AQR Capital Management LLC increased its position in shares of Annexon by 122.6% during the 1st quarter. AQR Capital Management LLC now owns 73,790 shares of the company's stock valued at $142,000 after purchasing an additional 40,637 shares during the last quarter. Jane Street Group LLC lifted its position in Annexon by 8.2% in the 1st quarter. Jane Street Group LLC now owns 99,924 shares of the company's stock worth $193,000 after buying an additional 7,553 shares during the last quarter. Acadian Asset Management LLC lifted its position in Annexon by 31.1% in the 1st quarter. Acadian Asset Management LLC now owns 203,990 shares of the company's stock worth $393,000 after buying an additional 48,345 shares during the last quarter. Geode Capital Management LLC boosted its stake in Annexon by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company's stock worth $5,484,000 after buying an additional 39,763 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Annexon by 6.6% during the second quarter. American Century Companies Inc. now owns 211,195 shares of the company's stock valued at $507,000 after acquiring an additional 13,001 shares during the last quarter.

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.

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