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

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 373.93% from the stock’s current price.

Several other research firms also recently commented on ANNX. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon currently has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Trading Down 3.4 %

Shares of Annexon stock opened at $6.33 on Friday. The stock’s fifty day simple moving average is $6.89 and its 200 day simple moving average is $5.90. Annexon has a 12 month low of $2.27 and a 12 month high of $8.40. The company has a market capitalization of $668.76 million, a PE ratio of -5.15 and a beta of 1.23.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). Analysts predict that Annexon will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 10,000 shares in the company, valued at $56,400. The trade was a 35.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 20,908 shares of company stock valued at $135,768. 12.67% of the stock is currently owned by company insiders.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after purchasing an additional 1,311,195 shares in the last quarter. Vanguard Group Inc. grew its stake in Annexon by 96.4% during the first 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 in the last quarter. Point72 Europe London LLP bought a new stake in Annexon during the 2nd quarter worth approximately $1,150,000. Point72 Asset Management L.P. lifted its stake in Annexon by 16.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after purchasing an additional 832,617 shares in the last quarter. Finally, Bellevue Group AG purchased a new position in shares of Annexon during the 1st quarter valued at $15,647,000.

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.