In a report released today, Joseph Stringer from Needham maintained a Buy rating on Annexon Biosciences, with a price target of $11.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Joseph Stringer has given his Buy rating due to a combination of factors related to Annexon Biosciences’ recent developments and financial health. The company is currently engaged in ongoing regulatory discussions with the FDA concerning the BLA submission for tanruprubart in treating Guillain-Barré Syndrome, indicating potential progress in their pipeline. Additionally, Annexon is anticipating proof-of-concept data for their oral complement inhibitor program, ANX1502, by the end of 2025, which could further enhance their portfolio.
Moreover, the tanruprubart Phase 3 program for Geographic Atrophy is fully enrolled, with data expected in the second half of 2026, suggesting a well-advanced stage in clinical trials. Financially, Annexon reported a cash balance of $227 million as of the second quarter of 2025, which is projected to support operations into the second half of 2026, providing a stable financial runway. These elements combined suggest a promising outlook for the company, justifying the Buy rating.