Annexon, Inc. (NASDAQ:ANNX) Given Consensus Recommendation of “Buy” by Analysts

Annexon, Inc. (NASDAQ:ANNXGet Rating) has earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $35.75.

ANNX has been the subject of a number of analyst reports. Zacks Investment Research raised Annexon from a “sell” rating to a “hold” rating in a report on Tuesday, March 8th. Needham & Company LLC reduced their price target on Annexon from $37.00 to $24.00 and set a “buy” rating for the company in a report on Friday, April 8th.

Shares of NASDAQ:ANNX traded up $0.06 during midday trading on Friday, reaching $2.61. The company’s stock had a trading volume of 1,154 shares, compared to its average volume of 555,474. The firm has a market cap of $100.65 million, a price-to-earnings ratio of -0.77 and a beta of 1.07. Annexon has a 1 year low of $2.06 and a 1 year high of $24.85. The business has a 50 day moving average price of $3.51 and a 200 day moving average price of $9.49.

Annexon (NASDAQ:ANNXGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The company reported ($0.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.07). Analysts expect that Annexon will post -4.16 EPS for the current year.

In related news, CEO Douglas Love purchased 60,000 shares of the company’s stock in a transaction dated Thursday, April 14th. The shares were acquired at an average cost of $2.45 per share, for a total transaction of $147,000.00. Following the transaction, the chief executive officer now owns 200,942 shares of the company’s stock, valued at $492,307.90. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ANNX. Kestra Advisory Services LLC bought a new position in Annexon during the 1st quarter valued at $41,000. Royal Bank of Canada boosted its stake in Annexon by 48.2% during the 3rd quarter. Royal Bank of Canada now owns 3,254 shares of the company’s stock valued at $61,000 after purchasing an additional 1,059 shares in the last quarter. Marshall Wace LLP bought a new position in Annexon during the 4th quarter valued at $73,000. Ensign Peak Advisors Inc bought a new position in Annexon during the 4th quarter valued at $96,000. Finally, Cubist Systematic Strategies LLC bought a new position in Annexon during the 3rd quarter valued at $117,000. Hedge funds and other institutional investors own 98.68% of the company’s stock.

About Annexon (Get Rating)

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.

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Analyst Recommendations for Annexon (NASDAQ:ANNX)

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