Parkman Healthcare Partners LLC Invests $3.66 Million in Annexon, Inc. $ANNX

Parkman Healthcare Partners LLC purchased a new stake in Annexon, Inc. (NASDAQ:ANNX) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 641,029 shares of the company’s stock, valued at approximately $3,660,000. Parkman Healthcare Partners LLC owned 0.39% of Annexon as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc bought a new position in Annexon in the second quarter worth about $560,000. The Manufacturers Life Insurance Company bought a new position in shares of Annexon during the second quarter valued at approximately $237,000. Forefront Analytics LLC bought a new position in shares of Annexon during the second quarter valued at approximately $81,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Annexon during the 2nd quarter worth approximately $119,000. Finally, Ieq Capital LLC acquired a new position in Annexon during the 2nd quarter valued at approximately $685,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. Wall Street Zen downgraded shares of Annexon from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. The Goldman Sachs Group assumed coverage on shares of Annexon in a report on Tuesday, May 12th. They set a “neutral” rating and a $7.00 price target for the company. Citigroup initiated coverage on shares of Annexon in a research report on Tuesday, July 21st. They set a “market underperform” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.33.

Insider Activity

In other Annexon news, Director Muneer A. Satter purchased 613,497 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the purchase, the director owned 10,342,134 shares in the company, valued at $55,950,944.94. This trade represents a 6.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.31% of the company’s stock.

Annexon Trading Down 0.2%

Shares of NASDAQ ANNX opened at $5.06 on Tuesday. Annexon, Inc. has a 12-month low of $2.03 and a 12-month high of $7.18. The company has a market cap of $959.27 million, a PE ratio of -4.36 and a beta of 1.18. The stock has a 50 day simple moving average of $5.39 and a 200-day simple moving average of $5.45.

Annexon (NASDAQ:ANNX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Sell-side analysts forecast that Annexon, Inc. will post -1.01 earnings per share for the current fiscal year.

Annexon 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.