Brokerages Set Annexon, Inc. (NASDAQ:ANNX) PT at $17.00

Annexon, Inc. (NASDAQ:ANNX) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.00.

A number of equities research analysts have commented on the company. Chardan Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Friday, March 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st.

Insider Buying and Selling at Annexon

In other Annexon news, EVP Ted Yednock sold 7,857 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president owned 97,227 shares of the company’s stock, valued at approximately $496,829.97. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dean Richard Artis sold 5,290 shares of Annexon stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total transaction of $26,979.00. Following the sale, the executive vice president owned 123,487 shares of the company’s stock, valued at $629,783.70. The trade was a 4.11% 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 worth $165,973 in the last three months. 12.67% of the stock is owned by company insiders.

Institutional Trading of Annexon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. Mirae Asset Global Investments Co. Ltd. grew its stake in Annexon by 65.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock valued at $35,000 after purchasing an additional 2,785 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Annexon in the fourth quarter worth about $50,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Annexon during the third quarter worth about $31,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Annexon during the fourth quarter worth about $52,000. Finally, Mount Vernon Associates Inc. MD purchased a new stake in Annexon in the fourth quarter valued at approximately $53,000.

Annexon Trading Up 11.7%

Shares of ANNX opened at $5.54 on Friday. Annexon has a 12 month low of $1.28 and a 12 month high of $7.18. The stock has a fifty day moving average price of $5.61 and a 200-day moving average price of $4.56. The firm has a market cap of $662.75 million, a PE ratio of -4.07 and a beta of 1.15.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, March 30th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.04. As a group, research analysts forecast that Annexon will post -0.96 EPS for the current year.

About Annexon

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.