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

Annexon, Inc. (NASDAQ:ANNX) has received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.80.

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

Insider Buying and Selling

In related news, EVP Ted Yednock sold 4,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total transaction of $31,950.00. Following the sale, the executive vice president now owns 71,365 shares in the company, valued at approximately $506,691.50. This trade represents a 5.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 15,408 shares of company stock valued at $103,043 over the last 90 days. 12.67% of the stock is owned by corporate insiders.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Annexon by 3.2% during the 3rd quarter. FMR LLC now owns 8,561,949 shares of the company’s stock valued at $50,687,000 after purchasing an additional 262,229 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Annexon by 16.1% during 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. State Street Corp increased its holdings in shares of Annexon by 116.6% during the third quarter. State Street Corp now owns 3,841,879 shares of the company’s stock worth $22,744,000 after buying an additional 2,068,294 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after acquiring an additional 1,839,329 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Annexon by 18.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock valued at $12,693,000 after acquiring an additional 331,269 shares during the last quarter.

Annexon Stock Performance

Annexon stock opened at $5.27 on Tuesday. The stock has a 50-day simple moving average of $6.59 and a 200 day simple moving average of $5.97. The stock has a market capitalization of $561.75 million, a P/E ratio of -5.02 and a beta of 1.23. Annexon has a 52 week low of $2.27 and a 52 week high of $8.40.

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.