Annexon Shares Surge on Bullish Analyst Sentiment

Annexon Inc US03589W1027

The clinical-stage biopharmaceutical company Annexon, Inc. is currently riding a significant wave of positive analyst coverage. In a concentrated period, two major financial institutions have substantially upgraded their outlook on the firm, issuing price targets that represent a substantial premium to the stock’s current trading level.

Annexon recently bolstered its balance sheet through a capital raise, securing over $86 million in fresh funding via a stock placement. While the company reported a negative EBITDA exceeding $216 million, its current ratio of 4.42 indicates a solid position to cover short-term obligations. Adding to the confidence, a notable insider transaction saw a company director invest nearly $2 million in Annexon stock.

A Consecutive Wave Read more...