Annexon, Inc. (NASDAQ:ANNX) Receives Average Rating of “Hold” from Analysts

Annexon, Inc. (NASDAQ:ANNX) has received an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $16.00.

A number of brokerages have issued reports on ANNX. Wall Street Zen upgraded Annexon from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Chardan Capital restated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Friday, March 20th. The Goldman Sachs Group assumed coverage on Annexon in a report on Tuesday. They issued a “neutral” rating and a $7.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Monday, April 20th.

Annexon Price Performance

Shares of ANNX stock opened at $5.21 on Friday. Annexon has a 1 year low of $1.79 and a 1 year high of $7.18. The stock’s 50 day simple moving average is $5.69 and its two-hundred day simple moving average is $5.17. The company has a market cap of $853.61 million, a PE ratio of -4.27 and a beta of 1.22.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. Equities research analysts expect that Annexon will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other Annexon news, EVP Dean Richard Artis sold 5,290 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total transaction of $26,979.00. Following the sale, the executive vice president owned 123,487 shares of the company’s stock, valued at approximately $629,783.70. This trade represents a 4.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ted Yednock sold 7,857 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total transaction of $40,149.27. Following the completion of the sale, the executive vice president owned 97,227 shares in the company, valued at $496,829.97. This represents a 7.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders purchased 24,000 shares of company stock worth $141,200 and sold 32,513 shares worth $165,973. 11.87% of the stock is currently owned by insiders.

Institutional Trading of Annexon

Institutional investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. purchased a new position in Annexon in the 3rd quarter worth $31,000. Engineers Gate Manager LP purchased a new position in Annexon in the 2nd quarter worth $32,000. SG Americas Securities LLC purchased a new position in Annexon in the 3rd quarter worth $34,000. 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 worth $35,000 after acquiring an additional 2,785 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in Annexon in the 3rd quarter worth $40,000.

About Annexon

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.