Annexon (NASDAQ:ANNX) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Annexon (NASDAQ:ANNX) from a sell rating to a hold rating in a research note released on Saturday.

ANNX has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Chardan Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Friday, March 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Annexon presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Annexon Stock Performance

ANNX opened at $5.69 on Friday. The stock has a market capitalization of $924.68 million, a price-to-earnings ratio of -4.66 and a beta of 1.22. The company has a fifty day moving average of $5.69 and a 200 day moving average of $5.08. Annexon has a fifty-two week low of $1.60 and a fifty-two week high of $7.18.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. On average, equities research analysts forecast that Annexon will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Annexon

In other news, CFO Jennifer Lew sold 7,851 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total transaction of $40,118.61. Following the sale, the chief financial officer directly owned 113,765 shares of the company’s stock, valued at $581,339.15. This represents a 6.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dean Richard Artis sold 5,290 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total value of $26,979.00. Following the sale, the executive vice president directly owned 123,487 shares in the company, valued at $629,783.70. This trade represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 32,513 shares of company stock worth $165,973. Company insiders own 11.87% of the company’s stock.

Institutional Trading of Annexon

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Annexon by 65.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after acquiring an additional 2,785 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Annexon during the 4th quarter valued at $50,000. CIBC Bancorp USA Inc. purchased a new stake in Annexon during the 3rd quarter valued at $31,000. Mercer Global Advisors Inc. ADV purchased a new stake in Annexon during the 4th quarter valued at $52,000. Finally, Mount Vernon Associates Inc. MD purchased a new stake in Annexon during the 4th quarter valued at $53,000.

About Annexon

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.