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

Shares of Annexon, Inc. (NASDAQ:ANNX) have been given a consensus recommendation of “Buy” by the six research firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $15.80.

ANNX has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Friday, November 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Tuesday, December 17th.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 5,408 shares of Annexon 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 owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. The trade was a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Annexon

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Annexon by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company’s stock valued at $10,101,000 after buying an additional 235,810 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Annexon in the 3rd quarter valued at $292,000. Barclays PLC increased its holdings in Annexon by 212.0% in the 3rd quarter. Barclays PLC now owns 177,765 shares of the company’s stock worth $1,052,000 after acquiring an additional 120,789 shares in the last quarter. Geode Capital Management LLC raised its position in Annexon by 18.3% during the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock worth $12,693,000 after acquiring an additional 331,269 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Annexon by 36.2% during the third quarter. Wellington Management Group LLP now owns 263,360 shares of the company’s stock valued at $1,559,000 after purchasing an additional 69,941 shares in the last quarter.

Annexon Stock Down 1.3 %

Shares of Annexon stock opened at $5.19 on Friday. The firm’s 50 day moving average price is $5.99 and its 200-day moving average price is $5.95. The company has a market cap of $553.22 million, a P/E ratio of -4.94 and a beta of 1.11. Annexon has a 52-week low of $3.86 and a 52-week high of $8.40.

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.