HC Wainwright Reaffirms Buy Rating for Annexon (NASDAQ:ANNX)

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $30.00 price objective on the stock.

ANNX has been the topic of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.80.

Annexon Stock Performance

Annexon stock opened at $4.95 on Tuesday. The stock has a market cap of $527.64 million, a PE ratio of -4.71 and a beta of 1.10. The firm’s 50-day simple moving average is $6.29 and its 200 day simple moving average is $5.98. Annexon has a fifty-two week low of $2.75 and a fifty-two week high of $8.40.

Insider Buying and Selling

In other news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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. This represents a 7.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Annexon

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. State Street Corp increased its stake in shares of Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock worth $22,744,000 after acquiring an additional 2,068,294 shares in the last quarter. Candriam S.C.A. bought a new position in Annexon during the 2nd quarter valued at approximately $10,061,000. Sio Capital Management LLC purchased a new stake in shares of Annexon in the third quarter worth $8,484,000. Marshall Wace LLP increased its stake in Annexon by 436.6% during the 2nd quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock valued at $8,299,000 after purchasing an additional 1,378,053 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Annexon by 16.1% in the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after buying an additional 832,617 shares during the last quarter.

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.