HC Wainwright Has Negative View of Annexon FY2027 Earnings

Annexon, Inc. (NASDAQ:ANNX - Free Report) - Investment analysts at HC Wainwright reduced their FY2027 EPS estimates for shares of Annexon in a note issued to investors on Friday, November 15th. HC Wainwright analyst A. Fein now expects that the company will post earnings of $0.49 per share for the year, down from their previous estimate of $0.58. HC Wainwright has a "Buy" rating and a $30.00 price objective on the stock. The consensus estimate for Annexon's current full-year earnings is ($0.97) per share. HC Wainwright also issued estimates for Annexon's FY2028 earnings at $0.90 EPS.

Several other brokerages have also commented on ANNX. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a research note on Friday. Needham & Company LLC restated a "buy" rating and issued a $16.00 price objective on shares of Annexon in a research note on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon currently has an average rating of "Buy" and an average price target of $15.80.

Annexon Stock Down 10.8 %

Shares of NASDAQ:ANNX traded down $0.66 during trading on Monday, reaching $5.46. 1,673,385 shares of the company traded hands, compared to its average volume of 1,818,616. The firm has a fifty day simple moving average of $6.91 and a 200 day simple moving average of $5.93. Annexon has a 1-year low of $2.27 and a 1-year high of $8.40. The firm has a market cap of $576.87 million, a P/E ratio of -5.20 and a beta of 1.23.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its holdings in Annexon by 78.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company's stock worth $48,000 after purchasing an additional 2,949 shares during the last quarter. Comerica Bank acquired a new stake in Annexon during the first quarter worth about $72,000. Sandia Investment Management LP acquired a new stake in shares of Annexon during the 2nd quarter worth approximately $49,000. Victory Capital Management Inc. acquired a new position in Annexon during the second quarter valued at approximately $51,000. Finally, Principal Financial Group Inc. acquired a new stake in Annexon in the second quarter valued at about $56,000.

Insider Buying and Selling

In other news, EVP Ted Yednock sold 5,500 shares of Annexon stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company's stock, valued at $56,400. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 20,908 shares of company stock worth $135,768. 12.67% of the stock is owned by corporate insiders.

Annexon Company Profile

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.