Annexon (NASDAQ:ANNX) Coverage Initiated at Chardan Capital

Equities researchers at Chardan Capital assumed coverage on shares of Annexon (NASDAQ:ANNX) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Chardan Capital’s target price indicates a potential upside of 207.69% from the stock’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Wednesday, October 8th. Wells Fargo & Company increased their target price on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Four 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Annexon Stock Performance

Shares of ANNX stock opened at $5.20 on Tuesday. The business’s 50 day moving average price is $3.89 and its 200-day moving average price is $3.02. Annexon has a fifty-two week low of $1.28 and a fifty-two week high of $5.66. The firm has a market cap of $622.08 million, a P/E ratio of -3.69 and a beta of 1.20.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities analysts predict that Annexon will post -0.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Jung Choi purchased 33,000 shares of the stock in a transaction dated Monday, December 1st. The stock was purchased at an average price of $4.19 per share, with a total value of $138,270.00. Following the transaction, the director directly owned 33,000 shares in the company, valued at $138,270. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Muneer A. Satter purchased 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average price of $3.94 per share, for a total transaction of $1,970,000.00. Following the purchase, the director owned 8,906,024 shares in the company, valued at $35,089,734.56. This represents a 5.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 1,867,958 shares of company stock valued at $7,248,043. 11.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Nuveen LLC bought a new stake in Annexon in the 1st quarter worth about $670,000. Sirios Capital Management L P lifted its stake in Annexon by 28.7% during the 2nd quarter. Sirios Capital Management L P now owns 989,577 shares of the company’s stock valued at $2,375,000 after acquiring an additional 220,891 shares during the period. Sio Capital Management LLC boosted its holdings in shares of Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after acquiring an additional 697,978 shares during the last quarter. J. Safra Sarasin Holding AG grew its stake in shares of Annexon by 49.9% in the second quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company’s stock worth $915,000 after acquiring an additional 126,903 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Annexon by 32.9% during the first quarter. Wellington Management Group LLP now owns 356,480 shares of the company’s stock valued at $688,000 after purchasing an additional 88,314 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.