H.C. Wainwright Reiterates Buy Rating on Annexon Biosciences (ANNX)

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating and $30.00 price target on Annexon Biosciences (NASDAQ: ANNX).

The analyst comments "Valuation and Risks. Our price target of $30 is based on an equally weighted composite of: (a) $31.56/share, as a 30x multiple taxed and diluted 2034 EPS of $3.92/share discounted back to December 2024 at 12%; and (b) an NPV discounted cash flow between 2021-2034 of $27/share, with a discount rate of 11% and growth rate of 2%. These assumptions are in-line with the expected P/E multiple and discount rates of an early developmental-stage biopharmaceutical company. Risks to our investment thesis and target price include: (1) failure of ANX005 in clinical studies; (2) failure of ANX005 to secure regulatory approval in the US and EU; and (3) failure of ANX005 to achieve peak commercial revenue estimates in our model due to market size, penetration rates, and/or pricing."

For an analyst ratings summary and ratings history on Annexon Biosciences click here. For more ratings news on Annexon Biosciences click here.

Shares of Annexon Biosciences closed at $5.61 yesterday.

You May Also Be Interested In

• US Tiger Securities Upgrades Circle Internet Group (CRCL) to Buy, 'anchored in our more constructive view on Bitcoin'
• Oppenheimer Reiterates Trimble Navigation (TRMB) at Outperform following Axios report
• Microsoft Replaces OpenAI, Anthropic With Own AI in Some Apps - Bloomberg