Jefferies analyst Andrew Tsai has maintained their bullish stance on ANNX stock, giving a Buy rating today.
Andrew Tsai has given his Buy rating due to a combination of factors including the promising developments in Annexon Biosciences’ C1 complement pipeline. The company is set to have a significant FDA meeting in the first half of 2025 regarding ANX005, a C1q antibody for Guillain-Barré Syndrome (GBS), which could potentially lead to a substantial market opportunity given its superior profile compared to current off-label treatments.
Furthermore, the upcoming data for ANX1502, an oral C1s inhibitor, in CAD anemia could support expansion into larger autoimmune disorder markets if the results are positive. Additionally, the Phase III data for ANX007 in geographic atrophy eye disease expected in 2026 further strengthens the potential for stock upside. These strategic developments, along with the company’s solid cash position, underpin Tsai’s confidence in the stock’s future performance.
According to TipRanks, Tsai is a 4-star analyst with an average return of 5.1% and a 48.33% success rate. Tsai covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Savara, and Supernus Pharmaceuticals.
In another report released today, Needham also maintained a Buy rating on the stock with a $16.00 price target.