Franklin Resources Inc. Acquires Shares of 49,406 Annexon, Inc. (NASDAQ:ANNX)

Franklin Resources Inc. bought a new stake in shares of Annexon, Inc. (NASDAQ:ANNX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 49,406 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANNX. Sandia Investment Management LP purchased a new stake in Annexon in the second quarter worth about $49,000. Victory Capital Management Inc. bought a new stake in shares of Annexon in the 2nd quarter worth approximately $51,000. Principal Financial Group Inc. bought a new stake in shares of Annexon in the 2nd quarter worth approximately $56,000. Quarry LP purchased a new stake in shares of Annexon in the 3rd quarter worth approximately $118,000. Finally, Allegheny Financial Group LTD increased its position in Annexon by 16.1% during 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 in the last quarter.

Annexon Stock Performance

ANNX opened at $5.13 on Thursday. The stock’s 50 day moving average price is $5.80 and its 200-day moving average price is $5.94. Annexon, Inc. has a one year low of $3.86 and a one year high of $8.40. The stock has a market cap of $546.83 million, a price-to-earnings ratio of -4.89 and a beta of 1.10.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the sale, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. This represents a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ANNX has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon currently has a consensus rating of “Buy” and a consensus price target of $15.80.

Annexon 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.