Massachusetts Financial Services Co. MA Increases Holdings in Annexon, Inc. (NASDAQ:ANNX)

Massachusetts Financial Services Co. MA lifted its position in Annexon, Inc. (NASDAQ:ANNX) by 37.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,064,801 shares of the company’s stock after buying an additional 290,887 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.15% of Annexon worth $5,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its position in Annexon by 78.2% in the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after purchasing an additional 2,949 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Annexon in the second quarter worth approximately $51,000. Principal Financial Group Inc. purchased a new stake in Annexon during the second quarter valued at approximately $56,000. Comerica Bank bought a new position in Annexon in the first quarter worth approximately $72,000. Finally, ProShare Advisors LLC purchased a new position in shares of Annexon during the 1st quarter worth $87,000.

Analyst Upgrades and Downgrades

ANNX has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.80.

Annexon Price Performance

NASDAQ:ANNX opened at $7.03 on Friday. The business’s 50-day simple moving average is $6.05 and its two-hundred day simple moving average is $5.58. Annexon, Inc. has a 52 week low of $1.57 and a 52 week high of $8.40. The stock has a market cap of $649.66 million, a PE ratio of -4.78 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last issued its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). Sell-side analysts anticipate that Annexon, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Annexon

In related news, EVP Ted Yednock sold 4,500 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total transaction of $31,950.00. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at $506,691.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 9,600 shares of company stock valued at $53,504 and have sold 17,388 shares valued at $107,072. Insiders own 12.67% of the company’s stock.

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.