Annexon, Inc. (NASDAQ:ANNX) Given Average Recommendation of “Hold” by Brokerages

Annexon, Inc. (NASDAQ:ANNX) has received a consensus rating of “Hold” from the seven analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.00.

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Annexon from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Chardan Capital restated a “buy” rating and issued a $16.00 price target on shares of Annexon in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Monday, April 20th. Finally, The Goldman Sachs Group began coverage on Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price target for the company.

Insider Transactions at Annexon

In related news, Director William H. Carson purchased 8,000 shares of Annexon stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $5.78 per share, for a total transaction of $46,240.00. Following the completion of the transaction, the director directly owned 78,405 shares in the company, valued at $453,180.90. This represents a 11.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muneer A. Satter purchased 613,497 shares of Annexon stock in a transaction on Thursday, May 28th. The stock was bought at an average price of $5.41 per share, with a total value of $3,319,018.77. Following the transaction, the director owned 10,342,134 shares of the company’s stock, valued at approximately $55,950,944.94. This represents a 6.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 629,497 shares of company stock valued at $3,414,859. Company insiders own 10.31% of the company’s stock.

Institutional Trading of Annexon

Several institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Annexon by 13.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,553 shares of the company’s stock worth $100,000 after purchasing an additional 2,348 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after purchasing an additional 2,785 shares in the last quarter. Susquehanna Portfolio Strategies LLC grew its position in shares of Annexon by 0.8% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 356,619 shares of the company’s stock worth $1,790,000 after purchasing an additional 2,875 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Annexon by 21.7% during the fourth quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock worth $124,000 after purchasing an additional 4,410 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Annexon by 3.6% during the first quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock worth $747,000 after purchasing an additional 4,684 shares in the last quarter.

Annexon Stock Performance

ANNX stock opened at $5.20 on Wednesday. Annexon has a fifty-two week low of $1.85 and a fifty-two week high of $7.18. The business’s 50-day moving average is $5.64 and its two-hundred day moving average is $5.44. The company has a market cap of $851.97 million, a price-to-earnings ratio of -4.26 and a beta of 1.18.

Annexon (NASDAQ:ANNX) last posted its earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. Equities analysts predict that Annexon will post -0.92 earnings per share for the current year.

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.