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

Annexon, Inc. (NASDAQ:ANNX) has been assigned an average rating of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $15.80.

A number of equities research analysts recently issued reports on ANNX shares. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Tuesday, August 13th.

Annexon Stock Performance

ANNX opened at $7.36 on Friday. The company has a market cap of $777.58 million, a price-to-earnings ratio of -5.98 and a beta of 1.23. Annexon has a one year low of $2.05 and a one year high of $8.40. The business’s fifty day moving average is $6.79 and its two-hundred day moving average is $5.83.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). On average, analysts predict that Annexon will post -0.97 EPS for the current fiscal year.

Insider Transactions at Annexon

In other Annexon news, EVP Ted Yednock sold 5,500 shares of Annexon stock in a transaction dated Thursday, September 5th. The stock was 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 owns 10,000 shares in the company, valued at $56,400. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 20,908 shares of company stock worth $135,768 over the last quarter. 12.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Annexon

A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Annexon by 78.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after buying an additional 2,949 shares during the last quarter. Sandia Investment Management LP purchased a new stake in Annexon during the second quarter valued at about $49,000. Victory Capital Management Inc. acquired a new stake in Annexon during the second quarter worth about $51,000. Principal Financial Group Inc. purchased a new position in shares of Annexon in the 2nd quarter worth about $56,000. Finally, Comerica Bank purchased a new position in shares of Annexon in the 1st quarter worth about $72,000.

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.