Annexon’s (ANNX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note published on Tuesday,Benzinga reports. They currently have a $30.00 price target on the stock.

ANNX has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Performance

Shares of NASDAQ:ANNX opened at $5.22 on Tuesday. The firm has a market cap of $556.42 million, a PE ratio of -4.97 and a beta of 1.10. The firm’s 50 day simple moving average is $6.21 and its 200-day simple moving average is $5.97. Annexon has a one year low of $2.77 and a one year high of $8.40.

Insider Activity

In other news, EVP Ted Yednock sold 5,408 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the sale, the executive vice president now owns 71,365 shares of the company’s stock, valued at $528,814.65. This trade represents a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. raised its position in shares of Annexon by 16.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after purchasing an additional 832,617 shares during the last quarter. Point72 Europe London LLP acquired a new position in Annexon during the 2nd quarter valued at approximately $1,150,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Annexon by 221.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company’s stock worth $4,335,000 after buying an additional 504,656 shares during the last quarter. FMR LLC lifted its stake in shares of Annexon by 3.2% during the third quarter. FMR LLC now owns 8,561,949 shares of the company’s stock worth $50,687,000 after buying an additional 262,229 shares during the period. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of Annexon during the second quarter valued at $3,134,000.

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.