Annexon, Inc. (NASDAQ:ANNX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Annexon, Inc. (NASDAQ:ANNX) have received an average recommendation of “Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.80.

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

Annexon Stock Performance

Shares of ANNX opened at $7.36 on Friday. The stock has a 50-day simple moving average of $6.79 and a 200-day simple moving average of $5.83. Annexon has a 1 year low of $2.05 and a 1 year high of $8.40. The stock has a market capitalization of $777.58 million, a PE ratio of -5.98 and a beta of 1.23.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.23). Analysts predict that Annexon will post -0.97 EPS for the current year.

Insider Transactions at Annexon

In other Annexon news, EVP Ted Yednock sold 5,500 shares of Annexon stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $56,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 20,908 shares of company stock worth $135,768. Insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of hedge funds have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in Annexon in the first quarter worth $241,000. ProShare Advisors LLC acquired a new position in shares of Annexon during the 1st quarter worth $87,000. Vanguard Group Inc. increased its holdings in shares of Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Annexon by 9.6% in the first quarter. Acadian Asset Management LLC now owns 957,993 shares of the company’s stock valued at $6,867,000 after purchasing an additional 83,969 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its holdings in Annexon by 78.2% during the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after buying an additional 2,949 shares in the last quarter.

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.