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

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

A number of research firms have recently issued reports on ANNX. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Friday, November 15th.

Annexon Stock Down 2.2 %

NASDAQ ANNX opened at $5.27 on Tuesday. Annexon has a twelve month low of $2.27 and a twelve month high of $8.40. The stock has a market cap of $561.75 million, a P/E ratio of -5.02 and a beta of 1.23. The company’s 50-day simple moving average is $6.59 and its 200 day simple moving average is $5.97.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 4,500 shares of Annexon stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.10, for a total transaction of $31,950.00. Following the transaction, the executive vice president now directly owns 71,365 shares in the company, valued at approximately $506,691.50. The trade was a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 15,408 shares of company stock valued at $103,043 over the last three months. Company insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

Institutional investors and hedge funds have recently modified their holdings of the business. Parkman Healthcare Partners LLC increased its holdings in Annexon by 0.5% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company’s stock worth $1,945,000 after purchasing an additional 1,768 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Annexon by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock worth $945,000 after buying an additional 2,450 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Annexon by 10.7% during the third 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. Allegheny Financial Group LTD raised its position in Annexon by 16.1% in the 2nd 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 last quarter. Finally, MetLife Investment Management LLC lifted its stake in Annexon by 11.8% in the 3rd quarter. MetLife Investment Management LLC now owns 55,212 shares of the company’s stock valued at $327,000 after acquiring an additional 5,814 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.