Annexon’s (ANNX) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Annexon (NASDAQ:ANNX) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $16.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Annexon Trading Down 6.9%

Shares of ANNX stock opened at $5.11 on Friday. The firm has a fifty day simple moving average of $5.74 and a 200-day simple moving average of $4.42. The company has a market capitalization of $611.31 million, a PE ratio of -3.62 and a beta of 1.15. Annexon has a twelve month low of $1.28 and a twelve month high of $7.18.

Insider Activity

In other news, Director William H. Carson purchased 8,000 shares of the stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $5.67 per share, for a total transaction of $45,360.00. Following the acquisition, the director owned 62,405 shares of the company’s stock, valued at $353,836.35. The trade was a 14.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ted Yednock sold 7,857 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total value of $40,149.27. Following the sale, the executive vice president directly owned 97,227 shares in the company, valued at approximately $496,829.97. This represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,513 shares of company stock valued at $165,973 over the last three months. Company insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Several institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Annexon during the fourth quarter worth $96,000. Invesco Ltd. boosted its holdings in shares of Annexon by 381.5% in the 4th quarter. Invesco Ltd. now owns 972,449 shares of the company’s stock valued at $4,882,000 after buying an additional 770,504 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Annexon during the 4th quarter valued at about $52,000. XTX Topco Ltd grew its position in shares of Annexon by 64.6% during the 4th quarter. XTX Topco Ltd now owns 243,313 shares of the company’s stock valued at $1,221,000 after buying an additional 95,473 shares during the last quarter. Finally, Ikarian Capital LLC acquired a new stake in Annexon during the fourth quarter worth about $1,156,000.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.