Annexon (NASDAQ:ANNX) Upgraded at Chardan Capital

Annexon (NASDAQ:ANNX) was upgraded by research analysts at Chardan Capital to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on the company. Wells Fargo & Company upped their target price on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Annexon Stock Down 1.5%

ANNX stock opened at $5.11 on Tuesday. The company has a 50 day moving average of $3.85 and a two-hundred day moving average of $3.01. The company has a market cap of $611.31 million, a price-to-earnings ratio of -3.62 and a beta of 1.20. Annexon has a 12-month low of $1.28 and a 12-month high of $5.66.

Annexon (NASDAQ:ANNX) last posted 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, research analysts anticipate that Annexon will post -0.96 EPS for the current year.

Insider Transactions at Annexon

In related news, Director Jung Choi purchased 33,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was bought at an average price of $4.19 per share, for a total transaction of $138,270.00. Following the purchase, the director owned 33,000 shares in the company, valued at $138,270. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Muneer A. Satter acquired 422,613 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average cost of $4.28 per share, for a total transaction of $1,808,783.64. Following the completion of the purchase, the director directly owned 9,728,637 shares in the company, valued at $41,638,566.36. This represents a 4.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,867,958 shares of company stock valued at $7,248,043 in the last ninety days. Insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

A number of institutional investors have recently modified their holdings of ANNX. Nuveen LLC acquired a new position in Annexon in the 1st quarter valued at $670,000. Sirios Capital Management L P lifted its position in Annexon by 28.7% during the 2nd quarter. Sirios Capital Management L P now owns 989,577 shares of the company’s stock worth $2,375,000 after acquiring an additional 220,891 shares during the last quarter. Sio Capital Management LLC lifted its position in Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after acquiring an additional 697,978 shares during the last quarter. J. Safra Sarasin Holding AG boosted its holdings in Annexon by 49.9% during the second quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company’s stock valued at $915,000 after acquiring an additional 126,903 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Annexon by 32.9% in the first quarter. Wellington Management Group LLP now owns 356,480 shares of the company’s stock valued at $688,000 after purchasing an additional 88,314 shares during 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.