Annexon (NASDAQ:ANNX) Shares Up 5.1% – What’s Next?

Annexon, Inc. (NASDAQ:ANNX) rose 5.1% during trading on Tuesday. The company traded as high as $4.20 and last traded at $4.2150. 1,227,574 shares changed hands during trading, a decline of 58% from the average session volume of 2,942,543 shares. The stock had previously closed at $4.01.

Wall Street Analyst Weigh In

ANNX has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Annexon in a research note on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research report on Friday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. JPMorgan Chase & Co. lifted their price objective on shares of Annexon from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Finally, Needham & Company LLC lifted their price target on shares of Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.14.

Annexon Price Performance

The company has a market cap of $799.08 million, a PE ratio of -3.64 and a beta of 1.21. The stock has a fifty day moving average price of $4.84 and a 200-day moving average price of $5.29.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). On average, equities analysts anticipate that Annexon, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Annexon

In related news, CEO Douglas Love purchased 26,065 shares of Annexon stock in a transaction dated Thursday, September 24th. The stock was acquired at an average cost of $3.83 per share, with a total value of $99,828.95. Following the completion of the transaction, the chief executive officer directly owned 390,476 shares of the company’s stock, valued at $1,495,523.08. This trade represents a 7.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Redmile Group LLC increased its position in Annexon by 44.8% in the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after purchasing an additional 4,499,124 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Annexon during the 2nd quarter valued at about $77,312,000. BVF Inc. IL lifted its holdings in shares of Annexon by 30.4% during the 4th quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock valued at $45,823,000 after buying an additional 2,128,080 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Annexon by 165.3% in the 1st quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock valued at $23,600,000 after buying an additional 2,654,414 shares in the last quarter. Finally, Siren L.L.C. acquired a new position in Annexon in the first quarter worth approximately $21,931,000.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company’s approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon’s lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.