Annexon, Inc. (NASDAQ:ANNX) Given Consensus Rating of “Hold” by Brokerages

Shares of Annexon, Inc. (NASDAQ:ANNX) have received a consensus rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.3333.

ANNX has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Annexon in a research report on Monday, July 20th. Needham & Company LLC lifted their target price on shares of Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research report on Friday, July 17th. The Goldman Sachs Group started coverage on shares of Annexon in a research note on Tuesday, May 12th. They set a “neutral” rating and a $7.00 price target for the company. Finally, Wall Street Zen lowered shares of Annexon from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th.

Insider Transactions at Annexon

In related news, Director Muneer A. Satter acquired 613,497 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the transaction, the director owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. The trade was a 6.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William H. Carson bought 8,000 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $5.78 per share, for a total transaction of $46,240.00. Following the completion of the purchase, the director directly owned 78,405 shares in the company, valued at approximately $453,180.90. The trade was a 11.36% increase in their position. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.31% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Annexon by 13.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,553 shares of the company’s stock worth $100,000 after buying an additional 2,348 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Annexon by 65.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after purchasing an additional 2,785 shares during the period. Susquehanna Portfolio Strategies LLC raised its stake in shares of Annexon by 0.8% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 356,619 shares of the company’s stock worth $1,790,000 after buying an additional 2,875 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Annexon by 21.7% in the 4th quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock valued at $124,000 after buying an additional 4,410 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Annexon by 3.6% in the first quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock valued at $747,000 after buying an additional 4,684 shares in the last quarter.

Annexon Stock Up 4.2%

ANNX traded up $0.20 on Thursday, reaching $5.07. The company had a trading volume of 345,232 shares, compared to its average volume of 2,969,336. Annexon has a 1 year low of $2.03 and a 1 year high of $7.18. The stock has a market capitalization of $829.85 million, a PE ratio of -4.16 and a beta of 1.16. The stock has a 50-day moving average price of $5.36 and a 200-day moving average price of $5.59.

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, topping the consensus estimate of ($0.30) by $0.07. As a group, analysts expect that Annexon will post -0.92 earnings per share for the current fiscal year.

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.