Annexon, Inc. (NASDAQ:ANNX) Given Average Rating of “Moderate Buy” by Brokerages

Annexon, Inc. (NASDAQ:ANNX) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.00.

ANNX has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Chardan Capital began coverage on shares of Annexon in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company upped their target price on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th.

Insider Buying and Selling

In other Annexon news, insider Jamie Dananberg sold 5,290 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total transaction of $26,979.00. Following the transaction, the insider owned 73,152 shares of the company’s stock, valued at approximately $373,075.20. This trade represents a 6.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jennifer Lew sold 7,851 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total value of $40,118.61. Following the completion of the sale, the chief financial officer directly owned 113,765 shares of the company’s stock, valued at $581,339.15. The trade was a 6.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,513 shares of company stock valued at $165,973 over the last ninety days. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BVF Inc. IL boosted its holdings in shares of Annexon by 30.4% in the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock valued at $45,823,000 after acquiring an additional 2,128,080 shares during the period. Vanguard Group Inc. raised its position in Annexon by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock valued at $17,797,000 after purchasing an additional 469,073 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Annexon by 266.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock worth $27,610,000 after purchasing an additional 4,000,000 shares during the period. State Street Corp grew its position in Annexon by 126.9% during the 4th quarter. State Street Corp now owns 4,652,185 shares of the company’s stock worth $23,354,000 after purchasing an additional 2,601,877 shares during the last quarter. Finally, Sio Capital Management LLC grew 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 purchasing an additional 697,978 shares during the last quarter.

Annexon Price Performance

Annexon stock opened at $5.46 on Monday. The stock has a market cap of $653.18 million, a PE ratio of -3.89 and a beta of 1.15. The stock’s fifty day moving average is $5.61 and its two-hundred day moving average is $4.06. Annexon has a 1-year low of $1.28 and a 1-year high of $7.18.

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.