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

Annexon, Inc. (NASDAQ:ANNX) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $15.80.

A number of equities analysts have issued reports on ANNX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Annexon in a research note on Friday, November 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th.

Annexon Stock Performance

Shares of ANNX stock opened at $5.13 on Friday. The firm’s 50 day moving average price is $5.80 and its two-hundred day moving average price is $5.94. Annexon has a 52-week low of $3.86 and a 52-week high of $8.40. The stock has a market cap of $546.83 million, a PE ratio of -4.89 and a beta of 1.10.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. This represents a 7.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.67% of the stock is owned by insiders.

Institutional Trading of Annexon

Hedge funds and other institutional investors have recently modified their holdings of the company. Parkman Healthcare Partners LLC grew its holdings in shares of Annexon by 0.5% during the third quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company’s stock worth $1,945,000 after buying an additional 1,768 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Annexon by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock valued at $945,000 after purchasing an additional 2,450 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Annexon by 10.7% in the third quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock worth $205,000 after purchasing an additional 3,355 shares in the last quarter. Allegheny Financial Group LTD lifted its position in shares of Annexon by 16.1% in the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock worth $123,000 after purchasing an additional 3,500 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Annexon by 11.8% during the third quarter. MetLife Investment Management LLC now owns 55,212 shares of the company’s stock worth $327,000 after purchasing an additional 5,814 shares during the last quarter.

About Annexon

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.