Analyst Andrew Tsai from Jefferies maintained a Buy rating on Annexon Biosciences (ANNX – Research Report) and keeping the price target at $10.00.
Andrew Tsai has given his Buy rating due to a combination of factors that highlight the potential of Annexon Biosciences’ lead drug candidate, ANX005, for treating Guillain-Barré Syndrome (GBS). The drug has shown promising results in its Phase III trials, demonstrating superior efficacy compared to the current off-label treatment, IVIg. Notably, patients treated with ANX005 experienced faster and more durable recoveries, with significant improvements in motor function and reduced ICU time.
Furthermore, the company’s strategic initiatives, such as the “Move GBS Forward” campaign, aim to increase awareness and early diagnosis of GBS among healthcare professionals, potentially expanding the market for ANX005. The anticipated FDA approval in 2026, coupled with the drug’s strong performance data, supports a high level of confidence in its commercial success, contributing to the Buy rating. Additionally, the potential market size for GBS treatments in the US and EU, estimated at over $1 billion, further underscores the investment opportunity in Annexon Biosciences.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ANNX in relation to earlier this year.