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

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.00.

A number of brokerages recently weighed in on ANNX. Chardan Capital reissued a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th.

Annexon Stock Up 2.6%

Shares of NASDAQ ANNX opened at $5.50 on Friday. The company has a market capitalization of $657.97 million, a PE ratio of -4.04 and a beta of 1.14. The stock’s 50 day moving average price is $5.55 and its 200-day moving average price is $4.57. Annexon has a twelve month low of $1.28 and a twelve month high of $7.18.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. As a group, research analysts expect that Annexon will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Annexon news, EVP Michael Overdorf sold 6,225 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total value of $31,747.50. Following the completion of the sale, the executive vice president directly owned 124,464 shares of the company’s stock, valued at $634,766.40. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jennifer Lew sold 7,851 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total value of $40,118.61. Following the completion of the sale, the chief financial officer owned 113,765 shares in the company, valued at approximately $581,339.15. The trade was a 6.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,513 shares of company stock worth $165,973 in the last three months. Insiders own 11.87% of the company’s stock.

Institutional Investors Weigh In On Annexon

Several large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Annexon by 65.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock valued at $35,000 after acquiring an additional 2,785 shares during the period. Landscape Capital Management L.L.C. bought a new position in Annexon during the fourth quarter worth about $50,000. CIBC Bancorp USA Inc. purchased a new position in shares of Annexon in the third quarter worth about $31,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Annexon in the fourth quarter valued at approximately $52,000. Finally, Mount Vernon Associates Inc. MD bought a new stake in shares of Annexon in the fourth quarter valued at approximately $53,000.

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.