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

Shares of Annexon, Inc. (NASDAQ:ANNX) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $14.43.

Several research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Wednesday, April 24th. Bank of America raised their price objective on shares of Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Annexon in a report on Wednesday, March 27th. Wells Fargo & Company upped their price objective on Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, April 1st.

Insider Transactions at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the transaction, the chief executive officer now owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 8,940 shares of company stock valued at $49,514. Company insiders own 19.11% of the company’s stock.

Institutional Trading of Annexon

Several hedge funds have recently modified their holdings of ANNX. Bain Capital Life Sciences Investors LLC raised its stake in shares of Annexon by 41.4% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after acquiring an additional 2,359,793 shares in the last quarter. BVF Inc. IL purchased a new stake in shares of Annexon during the 4th quarter valued at $31,780,000. Kennedy Capital Management LLC acquired a new stake in shares of Annexon in the 3rd quarter worth $2,306,000. Sectoral Asset Management Inc. grew its stake in Annexon by 33.2% during the 3rd quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock worth $2,121,000 after buying an additional 224,156 shares during the last quarter. Finally, Silverarc Capital Management LLC increased its position in Annexon by 2.5% during the 3rd quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock valued at $943,000 after buying an additional 9,805 shares in the last quarter.

Annexon Stock Up 2.4 %

Shares of NASDAQ:ANNX opened at $4.70 on Monday. The firm has a fifty day simple moving average of $5.67 and a two-hundred day simple moving average of $4.18. The stock has a market capitalization of $423.14 million, a P/E ratio of -2.64 and a beta of 1.14. Annexon has a 52 week low of $1.57 and a 52 week high of $8.40.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Tuesday, March 26th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.09. On average, analysts expect that Annexon will post -1.36 earnings per share for the current year.

Annexon Company Profile

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.