FY2022 EPS Estimates for Annexon, Inc. Increased by Cantor Fitzgerald (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX – Get Rating) – Analysts at Cantor Fitzgerald raised their FY2022 earnings per share estimates for shares of Annexon in a research note issued on Tuesday, May 10th. Cantor Fitzgerald analyst P. Stavropoulos now anticipates that the company will earn ($3.86) per share for the year, up from their previous estimate of ($4.38).

Annexon (NASDAQ:ANNX – Get Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08. The business had revenue of $32.00 million during the quarter. The firm’s revenue was up 166.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.68) EPS.

A number of other analysts have also recently weighed in on ANNX. Zacks Investment Research cut shares of Annexon from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Needham & Company LLC reduced their price objective on shares of Annexon from $37.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, April 8th. Finally, HC Wainwright dropped their target price on shares of Annexon from $40.00 to $30.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.25.

Shares of Annexon stock opened at $3.00 on Thursday. The firm has a fifty day simple moving average of $3.07 and a 200-day simple moving average of $8.29. Annexon has a 1-year low of $2.06 and a 1-year high of $24.85. The stock has a market capitalization of $115.69 million, a price-to-earnings ratio of -0.88 and a beta of 0.83.

In other news, CEO Douglas Love bought 60,000 shares of Annexon stock in a transaction dated Thursday, April 14th. The shares were bought at an average price of $2.45 per share, for a total transaction of $147,000.00. Following the purchase, the chief executive officer now owns 200,942 shares of the company’s stock, valued at $492,307.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. acquired a new position in Annexon during the 1st quarter valued at about $33,000. Kestra Advisory Services LLC acquired a new position in Annexon during the 1st quarter valued at about $41,000. Royal Bank of Canada lifted its position in Annexon by 48.2% during the 3rd quarter. Royal Bank of Canada now owns 3,254 shares of the company’s stock valued at $61,000 after purchasing an additional 1,059 shares during the period. Forefront Analytics LLC acquired a new position in Annexon during the 1st quarter valued at about $63,000. Finally, CNA Financial Corp lifted its position in Annexon by 18.8% during the 1st quarter. CNA Financial Corp now owns 23,423 shares of the company’s stock valued at $64,000 after purchasing an additional 3,713 shares during the period.

About Annexon (Get Rating)

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic 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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