Carson William H., a director at Annexon, Inc. (NASDAQ:ANNX), recently purchased 3,200 shares of the company's common stock. The acquisition, conducted under a pre-established Rule 10b5-1 trading plan, took place on December 2, 2024, with shares bought at a weighted average price of $5.33, totaling approximately $17,056. The purchase comes as InvestingPro data shows the stock's RSI indicating oversold territory, while shares have gained over 117% in the past year. Following this transaction, Carson holds a total of 25,600 shares directly. The transaction prices ranged from $5.25 to $5.53 per share. Notably, analysts maintain a strong bullish stance on ANNX, with price targets ranging from $9 to $30. InvestingPro subscribers can access 8 additional key insights about Annexon's financial health and market position.
In other recent news, Annexon Biosciences has been making significant strides with its ANX007 ARCHER trial, which aims to treat geographic atrophy, an advanced form of age-related macular degeneration. The data from the trial suggests a positive effect on vision preservation, particularly in patients with less advanced disease. This has led to a continuation of the Buy rating from a TD Cowen analyst, reflecting confidence in the potential success of the ongoing Phase III pivotal trial.
In parallel, Annexon Biosciences reported encouraging results from the pivotal trial of ANX005, a candidate for the treatment of Guillain-Barre Syndrome. Wells Fargo (NYSE:WFC) maintains an Overweight rating on Annexon's shares, citing positive clinical trial data and anticipated trial results as key drivers for potential upside in the stock's valuation.
Meanwhile, Wells Fargo has expressed bullish sentiments on Fair Isaac (NYSE:FICO) Corporation, predicting a material increase in scores prices across mortgage, auto, and card sectors. The firm also anticipates a strong fourth quarter for Las Vegas Sands (NYSE:LVS) Corp. On the other hand, Wells Fargo maintains an underweight rating on Tesla (NASDAQ:TSLA), Inc., citing potential declines in delivery growth.
In the genetics sector, Myriad Genetics (NASDAQ:MYGN) reported second-quarter revenues of $211.5 million, surpassing consensus expectations, and raised its guidance for 2024 to an estimated $835-845 million. This positive financial performance was met with positive reactions from analyst firms, including Wolfe Research, Scotiabank (TSX:BNS), and Jefferies, who raised their price targets for Myriad Genetics. These are all recent developments in these companies.
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