Joseph Stringer, an analyst from Needham, maintained the Buy rating on Annexon Biosciences. The associated price target remains the same with $11.00.
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Joseph Stringer has given his Buy rating due to a combination of factors that reflect a positive outlook for Annexon Biosciences. The company has recently reported its third-quarter financial results for 2025, highlighting several key developments. Notably, the proof-of-concept data for their oral C1s inhibitor ANX1502 is now anticipated in 2026, which represents a shift from the previous expectation of year-end 2025. Additionally, the filing for tanruprubart’s GBS MAA remains on schedule for January 2026, with ongoing discussions with the FDA regarding the requirements for BLA submission, particularly focusing on the Phase 3 generalizability data.
Another significant factor in the Buy rating is the company’s financial position. Annexon Biosciences has extended its cash guidance to the first quarter of 2027, with a third-quarter 2025 cash balance of $188.7 million. This financial stability is projected to support the company through its major pipeline milestones, including the oral ANX1502 data, tanruprubart GBS approval, and the Phase 3 Geographic Atrophy data readout expected in the second half of 2026. These developments and financial projections contribute to a favorable investment outlook for Annexon Biosciences.