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

Shares of Annexon, Inc. (NASDAQ:ANNX) have been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $17.00.

Several brokerages have recently commented on ANNX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Wells Fargo & Company raised their price target on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Finally, Chardan Capital began coverage on Annexon in a research report on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 target price on the stock.

Annexon Price Performance

Shares of ANNX stock opened at $5.24 on Thursday. The company has a market cap of $626.88 million, a P/E ratio of -3.72 and a beta of 1.17. The stock’s 50-day moving average is $5.56 and its 200 day moving average is $3.83. Annexon has a 1-year low of $1.28 and a 1-year high of $7.18.

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

Insider Transactions at Annexon

In other news, Director Muneer A. Satter bought 422,613 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average price of $4.28 per share, for a total transaction of $1,808,783.64. Following the completion of the transaction, the director directly owned 9,728,637 shares in the company, valued at approximately $41,638,566.36. This represents a 4.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jung Choi purchased 33,000 shares of Annexon stock in a transaction on Monday, December 1st. The shares were acquired at an average cost of $4.19 per share, with a total value of $138,270.00. Following the completion of the transaction, the director directly owned 33,000 shares in the company, valued at $138,270. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,863,843 shares of company stock valued at $7,243,105 in the last ninety days. Corporate insiders own 11.87% of the company’s stock.

Hedge Funds Weigh In On Annexon

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Annexon by 8.7% during the third 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 period. Sio Capital Management LLC lifted its stake in shares of Annexon by 20.5% in 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 period. Nuveen LLC grew its position in Annexon by 327.1% during the fourth quarter. Nuveen LLC now owns 2,915,324 shares of the company’s stock valued at $14,635,000 after buying an additional 2,232,766 shares during the period. Geode Capital Management LLC raised its position in shares of Annexon by 19.1% in the fourth quarter. Geode Capital Management LLC now owns 2,902,896 shares of the company’s stock worth $14,576,000 after acquiring an additional 465,952 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Annexon by 12.3% during the 3rd quarter. Millennium Management LLC now owns 2,822,823 shares of the company’s stock worth $8,610,000 after acquiring an additional 308,689 shares in the last quarter.

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.