Needham analyst Joseph Stringer maintained a Buy rating on Annexon Biosciences today and set a price target of $11.00.
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Joseph Stringer has given his Buy rating due to a combination of factors centered on Annexon’s advancing pipeline and preserved development timelines. He highlights that key programs remain on track, including tanruprubart in Guillain-Barré syndrome with a planned BLA filing in 2026, as well as proof-of-concept data for oral complement inhibitor ANX1502 in cold agglutinin disease expected the same year.
Stringer also emphasizes the pivotal Phase 3 readout for vonaprument in geographic atrophy anticipated in 4Q26, which he views as the primary value catalyst for the stock. In addition, he notes that the company’s approximately $225 million in cash should fund operations into the second half of 2027, supporting these milestones, and therefore he maintains his $11 price target while reiterating a Buy rating.