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

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

ANNX has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Annexon in a research note on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Tuesday, August 13th.

Insider Activity

In other news, EVP Ted Yednock sold 5,500 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $56,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 9,600 shares of company stock worth $53,504 and sold 12,888 shares worth $75,122. Corporate insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its stake in shares of Annexon by 78.2% during the first 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 bought a new position in shares of Annexon in the 2nd quarter worth $49,000. Victory Capital Management Inc. acquired a new stake in shares of Annexon during the second quarter worth $51,000. Principal Financial Group Inc. bought a new stake in Annexon in the second quarter valued at about $56,000. Finally, Comerica Bank acquired a new position in Annexon in the first quarter valued at about $72,000.

Annexon Trading Down 0.9 %

Shares of NASDAQ ANNX opened at $6.93 on Thursday. The firm has a 50-day moving average of $6.00 and a two-hundred day moving average of $5.56. The company has a market capitalization of $640.42 million, a price-to-earnings ratio of -4.71 and a beta of 1.28. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40.

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