In a report released today, Joseph Stringer from Needham maintained a Buy rating on Annexon Biosciences, with a price target of $11.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
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.