Annexon, Inc. (NASDAQ:ANNX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.00.

A number of research firms have weighed in on ANNX. Wells Fargo & Company boosted their target price on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, January 21st. Chardan Capital assumed coverage on Annexon in a research report on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th.

Insider Buying and Selling at Annexon

In related news, Director Jung Choi purchased 33,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were bought at an average cost of $4.19 per share, for a total transaction of $138,270.00. Following the transaction, the director directly owned 33,000 shares of the company’s stock, valued at approximately $138,270. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Muneer A. Satter acquired 422,613 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were bought at an average price of $4.28 per share, for a total transaction of $1,808,783.64. Following the acquisition, the director owned 9,728,637 shares in the company, valued at approximately $41,638,566.36. This trade represents a 4.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 1,863,843 shares of company stock worth $7,243,105. 12.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Annexon

Several hedge funds have recently made changes to their positions in ANNX. Woodline Partners LP increased its stake in Annexon by 150.4% during the third quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock valued at $8,047,000 after acquiring an additional 1,584,566 shares during the period. Sio Capital Management LLC grew its holdings in shares of Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after purchasing an additional 697,978 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Annexon by 8.7% during the third quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock valued at $17,797,000 after purchasing an additional 469,073 shares during the period. Geode Capital Management LLC raised its stake in shares of Annexon by 19.1% in the fourth quarter. Geode Capital Management LLC now owns 2,902,896 shares of the company’s stock valued at $14,576,000 after purchasing an additional 465,952 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Annexon by 39.9% in the second quarter. Bank of America Corp DE now owns 1,452,795 shares of the company’s stock valued at $3,487,000 after purchasing an additional 414,071 shares in the last quarter.

Annexon Stock Performance

ANNX opened at $5.63 on Thursday. The company has a market cap of $673.52 million, a PE ratio of -3.99 and a beta of 1.17. The stock has a 50-day moving average of $5.51 and a 200-day moving average of $3.80. Annexon has a 52-week low of $1.28 and a 52-week high of $7.18.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, research analysts predict that Annexon will post -0.96 earnings per share for the current year.

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.