- Jefferies has initiated Annexion ( NASDAQ: ANNX ) with a buy rating saying that the company's candidates for conditions including Huntington's disease, Guillain-Barre Syndrome, and geographic atrophy are promising and have a large market potential.
- The firm has a $12 price target (~89% upside based on Thursday's close).
- Analyst Suji Jeong said that candidate ANX005 for Huntington's disease ("HD") has the potential to become the first disease-modifying therapy for the condition. It is currently in phase 2 for that indication. Jeong sets peak sales estimates of ANX005 in HD in the US and Europe at ~$400M.
- On ANX007 for geographic atrophy, currently in phase 2, Jeong wrote that it could address a market of 245K in the US. The analyst sees peak sales of ~$420M.
- Seeking Alpha's Quant Rating views Annexon ( ANNX ) as a buy with strong grades for momentum, growth, and revisions .
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Annexon started as a buy at Jefferies on market potential of candidates, data catalysts