Annexon (NASDAQ:ANNX) Earns “Buy” Rating from HC Wainwright

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $30.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 390.20% from the company’s current price. HC Wainwright also issued estimates for Annexon’s FY2027 earnings at $0.49 EPS and FY2028 earnings at $0.90 EPS.

A number of other research firms also recently commented on ANNX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Trading Down 3.3 %

Shares of ANNX stock opened at $6.12 on Friday. The stock’s 50-day moving average price is $6.91 and its 200-day moving average price is $5.92. Annexon has a 12-month low of $2.27 and a 12-month high of $8.40. The stock has a market capitalization of $646.58 million, a price-to-earnings ratio of -4.98 and a beta of 1.23.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 5,500 shares of the company’s 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 transaction, the executive vice president now directly owns 10,000 shares in the company, 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 is accessible through this hyperlink. In the last 90 days, insiders have sold 20,908 shares of company stock worth $135,768. Company insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parkman Healthcare Partners LLC increased its position 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 acquiring an additional 1,768 shares during the period. The Manufacturers Life Insurance Company raised its position in Annexon by 1.6% during the 3rd 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 in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of 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 buying an additional 2,949 shares during the period. GSA Capital Partners LLP grew its position in shares of Annexon by 10.7% during the 3rd quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock worth $205,000 after buying an additional 3,355 shares in the last quarter. Finally, Allegheny Financial Group LTD increased its stake in shares of Annexon by 16.1% during the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock valued at $123,000 after buying an additional 3,500 shares during the period.

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.