Annexon’s (ANNX) “Buy” Rating Reaffirmed at Chardan Capital

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a note issued to investors on Friday,Benzinga reports. They currently have a $16.00 price objective on the stock. Chardan Capital’s target price would indicate a potential upside of 191.44% from the company’s previous close.

Several other brokerages have also issued reports on ANNX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Annexon Trading Up 1.3%

ANNX stock opened at $5.49 on Friday. The firm has a 50 day moving average of $5.74 and a 200-day moving average of $4.36. The firm has a market capitalization of $656.77 million, a P/E ratio of -3.89 and a beta of 1.15. Annexon has a 12 month low of $1.28 and a 12 month high of $7.18.

Insiders Place Their Bets

In other Annexon news, EVP Ted Yednock sold 7,857 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total value of $40,149.27. Following the completion of the sale, the executive vice president owned 97,227 shares in the company, valued at approximately $496,829.97. The trade was a 7.48% 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, EVP Dean Richard Artis 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 value of $26,979.00. Following the completion of the sale, the executive vice president directly owned 123,487 shares in the company, valued at $629,783.70. The trade was a 4.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,513 shares of company stock worth $165,973. 11.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. grew its stake in shares of Annexon by 266.7% in 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 buying an additional 4,000,000 shares during the last quarter. Mak Capital One LLC purchased a new position in shares of Annexon in the 4th quarter worth about $14,852,000. 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 valued at $23,354,000 after purchasing an additional 2,601,877 shares during the last quarter. Nuveen LLC increased its stake in Annexon by 327.1% during the 4th quarter. Nuveen LLC now owns 2,915,324 shares of the company’s stock valued at $14,635,000 after purchasing an additional 2,232,766 shares in the last quarter. Finally, BVF Inc. IL raised its holdings in Annexon by 30.4% in the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock worth $45,823,000 after buying an additional 2,128,080 shares during the last quarter.

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.