Annexon (NASDAQ:ANNX) Receives “Buy” Rating from HC Wainwright

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

A number of other research analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Annexon currently has a consensus rating of “Buy” and an average target price of $15.80.

Annexon Stock Down 3.6 %

Annexon stock opened at $4.88 on Tuesday. Annexon has a 52-week low of $2.68 and a 52-week high of $8.40. The firm’s fifty day moving average is $6.33 and its 200 day moving average is $5.98. The company has a market cap of $520.18 million, a price-to-earnings ratio of -4.67 and a beta of 1.10.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 71,365 shares in the company, valued at $528,814.65. The trade was a 7.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ANNX. State Street Corp increased its holdings in shares of Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after acquiring an additional 2,068,294 shares during the period. Candriam S.C.A. bought a new stake in Annexon during the second quarter valued at about $10,061,000. Sio Capital Management LLC purchased a new position in Annexon in the third quarter valued at about $8,484,000. Marshall Wace LLP raised its holdings in Annexon by 436.6% in the second quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock worth $8,299,000 after purchasing an additional 1,378,053 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Annexon by 16.1% during the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after buying an additional 832,617 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.