Annexon, Inc. (NASDAQ:ANNX) Receives $14.43 Average Price Target from Brokerages

Shares of Annexon, Inc. (NASDAQ:ANNX) have earned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.43.

ANNX has been the subject of a number of recent research reports. Bank of America increased their price objective on Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Wednesday, March 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Wednesday, April 24th. Wells Fargo & Company increased their price target on shares of Annexon from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Annexon in a research note on Thursday, April 11th.

Insider Buying and Selling

In related news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction on Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the completion of the transaction, the chief executive officer now directly owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 8,940 shares of company stock worth $49,514 in the last quarter. Company insiders own 19.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ANNX. Virtu Financial LLC purchased a new position in Annexon during the 4th quarter valued at about $221,000. BVF Inc. IL purchased a new position in shares of Annexon during the 4th quarter worth approximately $31,780,000. Lighthouse Investment Partners LLC acquired a new position in shares of Annexon during the 4th quarter worth approximately $306,000. Bain Capital Life Sciences Investors LLC grew its holdings in Annexon by 41.4% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after buying an additional 2,359,793 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Annexon by 53.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after buying an additional 4,141 shares in the last quarter.

Annexon Trading Up 2.4 %

Shares of NASDAQ ANNX opened at $4.70 on Monday. The stock has a market cap of $423.14 million, a P/E ratio of -2.64 and a beta of 1.14. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40. The stock has a 50 day moving average of $5.67 and a two-hundred day moving average of $4.18.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Tuesday, March 26th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. As a group, research analysts predict that Annexon will post -1.36 earnings per share for the current year.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.