Analysts Set Annexon, Inc. (NASDAQ:ANNX) Target Price at $15.80

Annexon, Inc. (NASDAQ:ANNX) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.80.

Several equities analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Tuesday, August 13th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Tuesday, August 13th.

Insider Activity at Annexon

In other news, EVP Ted Yednock sold 5,500 shares of Annexon stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares in the company, valued at $56,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 15,500 shares of company stock valued at $95,695. 12.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Annexon

A number of institutional investors and hedge funds have recently made changes to their positions in ANNX. Virtu Financial LLC purchased a new stake in Annexon in the 4th quarter worth $221,000. Susquehanna Fundamental Investments LLC bought a new stake in Annexon during the 1st quarter valued at approximately $241,000. ProShare Advisors LLC bought a new stake in Annexon during the 1st quarter valued at approximately $87,000. Vanguard Group Inc. lifted its holdings in Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after purchasing an additional 1,839,329 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Annexon by 9.6% in the 1st quarter. Acadian Asset Management LLC now owns 957,993 shares of the company’s stock worth $6,867,000 after purchasing an additional 83,969 shares during the period.

Annexon Price Performance

Shares of ANNX stock opened at $7.62 on Monday. The firm has a 50-day moving average of $6.29 and a 200-day moving average of $5.65. Annexon has a one year low of $1.67 and a one year high of $8.40. The company has a market cap of $704.19 million, a P/E ratio of -5.18 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). As a group, research analysts expect that Annexon will post -0.97 earnings per share for the current fiscal year.

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.