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

Shares of Annexon, Inc. (NASDAQ:ANNX) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.00.

ANNX has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Chardan Capital initiated coverage on Annexon in a research note on Tuesday, December 23rd. They set a “buy” rating and a $16.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th.

Insider Activity

In related news, Director Jung Choi purchased 33,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were acquired at an average price of $4.19 per share, for a total transaction of $138,270.00. Following the purchase, the director owned 33,000 shares of the company’s stock, valued at $138,270. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Muneer A. Satter purchased 500,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average cost of $3.94 per share, with a total value of $1,970,000.00. Following the acquisition, the director owned 8,906,024 shares of the company’s stock, valued at approximately $35,089,734.56. The trade was a 5.95% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 1,867,958 shares of company stock worth $7,256,150. Corporate insiders own 11.87% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several hedge funds have recently made changes to their positions in ANNX. Vanguard Group Inc. raised its stake in Annexon by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock worth $17,797,000 after acquiring an additional 469,073 shares during the last quarter. Sio Capital Management LLC grew its stake in Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after purchasing an additional 697,978 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Annexon by 12.3% in the third quarter. Millennium Management LLC now owns 2,822,823 shares of the company’s stock valued at $8,610,000 after purchasing an additional 308,689 shares during the period. TFG Asset Management GP Ltd raised its stake in shares of Annexon by 6.0% in the second quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock worth $6,744,000 after purchasing an additional 160,000 shares during the last quarter. Finally, Woodline Partners LP raised its stake in shares of Annexon by 150.4% in the third quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock worth $8,047,000 after purchasing an additional 1,584,566 shares during the last quarter.

Annexon Stock Performance

NASDAQ:ANNX opened at $5.25 on Friday. The company’s 50-day simple moving average is $4.36 and its 200-day simple moving average is $3.24. Annexon has a fifty-two week low of $1.28 and a fifty-two week high of $5.73. The stock has a market capitalization of $628.06 million, a P/E ratio of -3.72 and a beta of 1.19.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, research analysts forecast that Annexon will post -0.96 EPS 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.