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

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

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

Annexon Stock Down 5.4 %

Shares of ANNX opened at $6.65 on Thursday. The business has a 50-day simple moving average of $6.06 and a two-hundred day simple moving average of $5.59. Annexon has a 52 week low of $1.57 and a 52 week high of $8.40. The stock has a market cap of $614.55 million, a price-to-earnings ratio of -4.52 and a beta of 1.28.

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

Insider Activity

In related news, EVP Ted Yednock sold 5,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total transaction of $31,020.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $56,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders acquired 9,600 shares of company stock worth $53,504 and sold 17,388 shares worth $107,072. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of large investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Annexon by 10,482.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock valued at $9,492,000 after acquiring an additional 1,311,195 shares during the period. Vanguard Group Inc. boosted its position in shares of Annexon by 96.4% during 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. BVF Inc. IL acquired a new stake in shares of Annexon during the 4th quarter worth approximately $31,780,000. Bellevue Group AG purchased a new stake in Annexon in the first quarter valued at $15,647,000. Finally, Bain Capital Life Sciences Investors LLC boosted its stake in Annexon by 41.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after buying an additional 2,359,793 shares during the period.

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.