Jefferies Financial Group Research Analysts Decrease Earnings Estimates for Annexon, Inc. (NASDAQ:ANNX)

Annexon, Inc. (NASDAQ:ANNX – Get Rating) – Equities research analysts at Jefferies Financial Group cut their FY2023 earnings per share estimates for shares of Annexon in a report released on Monday, March 6th. Jefferies Financial Group analyst S. Jeong now anticipates that the company will earn ($2.08) per share for the year, down from their prior estimate of ($2.07). The consensus estimate for Annexon’s current full-year earnings is ($2.17) per share. Jefferies Financial Group also issued estimates for Annexon’s FY2025 earnings at ($1.94) EPS.

Annexon (NASDAQ:ANNX – Get Rating) last posted its quarterly earnings results on Monday, March 6th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.05.

ANNX has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Annexon in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price objective on shares of Annexon in a research note on Tuesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.60.

Annexon Stock Performance

ANNX stock opened at $4.73 on Thursday. The stock’s 50 day simple moving average is $5.99 and its 200 day simple moving average is $5.76. Annexon has a fifty-two week low of $2.06 and a fifty-two week high of $7.65. The company has a market cap of $238.82 million, a P/E ratio of -1.65 and a beta of 0.53.

Hedge Funds Weigh In On Annexon

Several hedge funds have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC lifted its holdings in Annexon by 11.1% during the third quarter. Bain Capital Life Sciences Investors LLC now owns 3,601,926 shares of the company’s stock worth $22,260,000 after acquiring an additional 360,298 shares during the period. Fairmount Funds Management LLC raised its stake in shares of Annexon by 16.1% during the 3rd quarter. Fairmount Funds Management LLC now owns 3,358,563 shares of the company’s stock worth $20,756,000 after purchasing an additional 465,963 shares during the period. VR Adviser LLC boosted its holdings in shares of Annexon by 67.0% in the 3rd quarter. VR Adviser LLC now owns 3,220,050 shares of the company’s stock worth $19,900,000 after buying an additional 1,291,573 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Annexon by 50.7% in the 1st quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company’s stock worth $8,334,000 after buying an additional 1,027,051 shares during the last quarter. Finally, Pictet Asset Management SA grew its position in Annexon by 1.3% during the third quarter. Pictet Asset Management SA now owns 2,258,711 shares of the company’s stock valued at $13,958,000 after buying an additional 29,656 shares during the period.

Annexon Company Profile

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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.