Equities Analysts Set Expectations for Annexon, Inc.'s FY2024 Earnings (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX - Free Report) - Analysts at Cantor Fitzgerald increased their FY2024 earnings per share (EPS) estimates for Annexon in a report issued on Tuesday, May 14th. Cantor Fitzgerald analyst P. Stavropoulos now expects that the company will post earnings per share of ($0.88) for the year, up from their previous forecast of ($1.38). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Annexon's current full-year earnings is ($1.36) per share.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reissued a "buy" rating and set a $16.00 target price on shares of Annexon in a research note on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday. Wells Fargo & Company dropped their price objective on Annexon from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Wednesday. Bank of America lifted their price objective on Annexon from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Annexon from $11.00 to $13.00 and gave the company an "overweight" rating in a research note on Monday, April 1st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $14.14.

Annexon Trading Down 3.1 %

ANNX stock traded down $0.14 during midday trading on Thursday, hitting $4.36. 1,030,401 shares of the company's stock were exchanged, compared to its average volume of 1,589,676. The business has a 50-day simple moving average of $5.51 and a two-hundred day simple moving average of $4.43. The stock has a market capitalization of $397.37 million, a PE ratio of -2.97 and a beta of 1.29. Annexon has a 1-year low of $1.57 and a 1-year high of $8.40.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management LLC purchased a new stake in Annexon during the 3rd quarter worth about $2,306,000. SG Americas Securities LLC lifted its holdings in Annexon by 14.1% during the 4th quarter. SG Americas Securities LLC now owns 25,335 shares of the company's stock worth $115,000 after buying an additional 3,123 shares during the last quarter. Sectoral Asset Management Inc. lifted its holdings in Annexon by 33.2% during the 3rd quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company's stock worth $2,121,000 after buying an additional 224,156 shares during the last quarter. Silverarc Capital Management LLC lifted its holdings in Annexon by 2.5% during the 3rd quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company's stock worth $943,000 after buying an additional 9,805 shares during the last quarter. Finally, Forefront Analytics LLC lifted its holdings in Annexon by 18.3% during the 3rd quarter. Forefront Analytics LLC now owns 31,680 shares of the company's stock worth $75,000 after buying an additional 4,890 shares during the last quarter.

About Annexon

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.