Annexon, Inc. (NASDAQ:ANNX) Given Average Recommendation of “Buy” by Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.80.

A number of research firms recently issued reports on ANNX. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, August 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Tuesday, August 13th.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $5.64, for a total transaction of $31,020.00. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $56,400. This represents a 35.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 20,908 shares of company stock worth $135,768 in the last 90 days. Insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its holdings in Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after acquiring an additional 2,949 shares during the last quarter. Sandia Investment Management LP bought a new stake in shares of Annexon in the 2nd quarter worth $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon in the second quarter worth $51,000. Principal Financial Group Inc. bought a new position in shares of Annexon during the second quarter valued at $56,000. Finally, Comerica Bank purchased a new stake in shares of Annexon during the first quarter valued at $72,000.

Annexon Stock Down 3.4 %

Shares of Annexon stock opened at $6.33 on Friday. The business has a 50 day moving average of $6.89 and a 200 day moving average of $5.90. Annexon has a 52 week low of $2.27 and a 52 week high of $8.40. The company has a market cap of $668.79 million, a PE ratio of -5.15 and a beta of 1.23.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). On average, research analysts anticipate that Annexon will post -0.97 earnings per share for the current year.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.