Needham analyst Joseph Stringer maintained a Buy rating on Annexon Biosciences (ANNX – Research Report) today and set a price target of $24.00. The company’s shares closed last Monday at $2.60, close to its 52-week low of $2.06.
According to TipRanks.com, Stringer has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -32.2% and a 16.1% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Apellis Pharmaceuticals, and Phathom Pharmaceuticals.
Annexon Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $26.00, which is a 919.6% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $30.00 price target.
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Annexon Biosciences’ market cap is currently $100.3M and has a P/E ratio of -0.77.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANNX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Annexon Inc is a clinical-stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain and eye. Its pipeline is based on its platform technology addressing well-researched classical complement-mediated autoimmune and neurodegenerative disease processes, both of which are triggered by aberrant activation of C1q, the initiating molecule of the classical complement pathway. Its pipeline of product candidates is designed to block the activity of C1q and the entire classical complement pathway in a broad set of complement-mediated diseases. Its product candidates are ANX005; ANX007; and ANX009.
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