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

Annexon, Inc. (NASDAQ:ANNX) has earned an average rating of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $15.80.

ANNX has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Monday, September 9th.

Annexon Stock Down 0.9 %

NASDAQ ANNX opened at $6.93 on Thursday. Annexon has a 52 week low of $1.57 and a 52 week high of $8.40. The firm has a 50 day moving average of $6.00 and a two-hundred day moving average of $5.56. The stock has a market capitalization of $640.42 million, a PE ratio of -4.71 and a beta of 1.28.

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

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total transaction of $31,020.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $56,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders acquired 9,600 shares of company stock valued at $53,504 and sold 12,888 shares valued at $75,122. 12.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annexon

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

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.