Parkman Healthcare Partners LLC Invests $3.66 Million in Annexon, Inc. $ANNX

Parkman Healthcare Partners LLC acquired a new stake in Annexon, Inc. (NASDAQ:ANNX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 641,029 shares of the company’s stock, valued at approximately $3,660,000.

A number of other hedge funds have also made changes to their positions in ANNX. Legal & General Group Plc bought a new stake in Annexon during the second quarter worth approximately $560,000. The Manufacturers Life Insurance Company acquired a new stake in Annexon in the second quarter worth approximately $237,000. Forefront Analytics LLC bought a new position in Annexon during the 2nd quarter valued at $81,000. Landscape Capital Management L.L.C. bought a new position in Annexon during the 2nd quarter valued at $119,000. Finally, Ieq Capital LLC acquired a new position in shares of Annexon during the 2nd quarter valued at $685,000.

Annexon Stock Performance

Shares of NASDAQ:ANNX opened at $5.06 on Tuesday. The stock has a market capitalization of $959.27 million, a price-to-earnings ratio of -4.36 and a beta of 1.18. Annexon, Inc. has a 1-year low of $2.03 and a 1-year high of $7.18. The company has a 50 day moving average price of $5.39 and a 200 day moving average price of $5.45.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). On average, sell-side analysts expect that Annexon, Inc. will post -1.01 EPS for the current fiscal year.

Insider Activity at Annexon

In related news, Director Muneer A. Satter purchased 613,497 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the transaction, the director directly owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. This trade represents a 6.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANNX has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Wall Street Zen cut Annexon from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Citigroup initiated coverage on Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research report on Friday, July 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Annexon in a report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price target for the company. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Annexon currently has an average rating of “Hold” and an average target price of $15.33.

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.