Equities Analysts Offer Predictions for Annexon, Inc.’s FY2021 Earnings (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX) – Cantor Fitzgerald decreased their FY2021 earnings estimates for shares of Annexon in a research report issued to clients and investors on Tuesday, November 23rd. Cantor Fitzgerald analyst P. Stavropoulos now expects that the company will earn ($3.41) per share for the year, down from their prior forecast of ($3.28). Cantor Fitzgerald has a “Overweight” rating and a $40.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Annexon’s FY2022 earnings at ($4.38) EPS.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Monday, November 8th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.06).

Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Annexon in a report on Tuesday, November 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $37.00 price target on shares of Annexon in a report on Tuesday, September 28th. Cowen reissued an “outperform” rating on shares of Annexon in a research report on Tuesday, November 2nd. Finally, Zacks Investment Research lowered shares of Annexon from a “hold” rating to a “sell” rating in a research report on Friday, August 20th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $38.67.

Shares of NASDAQ ANNX opened at $14.62 on Thursday. Annexon has a 12-month low of $13.03 and a 12-month high of $38.01. The company has a market capitalization of $561.04 million, a PE ratio of -4.81 and a beta of 0.43. The firm’s 50-day moving average is $18.35 and its two-hundred day moving average is $20.04.

Large investors have recently modified their holdings of the business. HighMark Wealth Management LLC acquired a new stake in shares of Annexon during the second quarter worth $33,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Annexon during the second quarter worth $51,000. Royal Bank of Canada increased its holdings in shares of Annexon by 48.2% in the 3rd quarter. Royal Bank of Canada now owns 3,254 shares of the company’s stock worth $61,000 after acquiring an additional 1,059 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Annexon in the 3rd quarter worth about $117,000. Finally, Alta Wealth Advisors LLC acquired a new stake in shares of Annexon in the 3rd quarter worth about $189,000.

In other Annexon news, EVP Ted Yednock sold 16,190 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $20.00, for a total transaction of $323,800.00. Following the completion of the sale, the executive vice president now directly owns 15,000 shares in the company, valued at $300,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jennifer Lew sold 3,500 shares of the company’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of $20.01, for a total transaction of $70,035.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,190 shares of company stock valued at $559,210. 7.90% of the stock is owned by insiders.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune and neurodegenerative diseases. It focuses on the treatment of body, brain, and eye 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.

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