Wall Street Analysts Believe Annexon (ANNX) Could Rally 101.12%: Here's is How to Trade

Core Viewpoint - Annexon, Inc. (ANNX) has seen a 20.1% increase in share price over the past four weeks, closing at $7.17, with a mean price target of $14.42 indicating a potential upside of 101.1% [1] Price Targets and Analyst Consensus - The mean price target is based on six short-term estimates with a standard deviation of $8.04, indicating variability among analysts; the lowest estimate suggests an 18.6% increase, while the highest predicts a 318.4% surge to $30 [1] - Analysts have shown strong agreement in revising earnings estimates higher, with five estimates increasing in the last 30 days and no negative revisions, leading to a 14.2% increase in the Zacks Consensus Estimate [5] Analyst Behavior and Price Target Reliability - Analysts' price targets are often questioned for their reliability, as they may set overly optimistic targets influenced by business relationships, which can mislead investors [3] - A low standard deviation in price targets indicates a high degree of agreement among analysts regarding the stock's price movement, serving as a starting point for further research [4] Zacks Rank and Investment Potential - ANNX holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, suggesting a strong potential upside [6]