Annexon (NASDAQ:ANNX) Hits New 12-Month High – Here’s Why

Annexon, Inc. (NASDAQ:ANNX) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $6.88 and last traded at $6.85, with a volume of 2990505 shares changing hands. The stock had previously closed at $6.16.

Wall Street Analyst Weigh In

A number of analysts recently commented on ANNX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Chardan Capital started coverage on shares of Annexon in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Five investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Annexon Price Performance

The stock has a market cap of $819.47 million, a price-to-earnings ratio of -4.86 and a beta of 1.19. The firm has a 50 day simple moving average of $4.88 and a two-hundred day simple moving average of $3.45.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). On average, sell-side analysts expect that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Activity at Annexon

In other news, Director Jung Choi bought 33,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were bought at an average cost of $4.19 per share, for a total transaction of $138,270.00. Following the completion of the acquisition, the director owned 33,000 shares in the company, valued at approximately $138,270. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Muneer A. Satter purchased 422,613 shares of Annexon stock in a transaction dated Friday, November 21st. The shares were purchased at an average cost of $4.28 per share, for a total transaction of $1,808,783.64. Following the completion of the transaction, the director owned 9,728,637 shares of the company’s stock, valued at approximately $41,638,566.36. This represents a 4.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,867,958 shares of company stock valued at $7,256,150 in the last ninety days. Insiders own 11.87% of the company’s stock.

Institutional Investors Weigh In On Annexon

Large investors have recently modified their holdings of the business. Matauro LLC bought a new position in shares of Annexon during the 2nd quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Annexon during the 2nd quarter worth approximately $29,000. 49 Wealth Management LLC bought a new position in Annexon in the second quarter valued at approximately $29,000. CIBC Bancorp USA Inc. acquired a new position in shares of Annexon in the third quarter valued at approximately $31,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Annexon during the second quarter worth $32,000.

Annexon Company Profile

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.