Annexon (NASDAQ:ANNX) Shares Gap Up – Time to Buy?

Annexon, Inc. (NASDAQ:ANNX)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.44, but opened at $5.00. Annexon shares last traded at $5.09, with a volume of 567,210 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ANNX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Annexon in a report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Annexon currently has an average rating of “Buy” and a consensus target price of $15.80.

Annexon Price Performance

The company has a market capitalization of $520.18 million, a price-to-earnings ratio of -4.67 and a beta of 1.10. The business has a fifty day moving average price of $6.33 and a 200 day moving average price of $5.98.

Insider Activity

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the transaction, the executive vice president now owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. This represents a 7.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Large investors have recently made changes to their positions in the stock. Parkman Healthcare Partners LLC increased its position in Annexon by 0.5% during the third quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company’s stock worth $1,945,000 after buying an additional 1,768 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Annexon by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock worth $945,000 after acquiring an additional 2,450 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Annexon by 10.7% during the 3rd quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock worth $205,000 after acquiring an additional 3,355 shares during the last quarter. Allegheny Financial Group LTD raised its stake in Annexon by 16.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock valued at $123,000 after acquiring an additional 3,500 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Annexon by 11.8% during the 3rd quarter. MetLife Investment Management LLC now owns 55,212 shares of the company’s stock valued at $327,000 after purchasing an additional 5,814 shares during the last quarter.

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.