Annexon, Inc. (NASDAQ:ANNX) Receives $17.00 Average Target Price from Analysts

Annexon, Inc. (NASDAQ:ANNX) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $17.00.

A number of equities analysts have commented on the company. Chardan Capital started coverage on Annexon in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Finally, Wells Fargo & Company upped their price target on Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th.

Annexon Price Performance

Annexon stock opened at $5.59 on Monday. Annexon has a 52-week low of $1.28 and a 52-week high of $7.18. The firm has a market capitalization of $668.73 million, a P/E ratio of -3.96 and a beta of 1.15. The stock has a fifty day moving average price of $5.63 and a two-hundred day moving average price of $4.11.

Insider Transactions at Annexon

In related news, EVP Ted Yednock sold 7,857 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total transaction of $40,149.27. Following the sale, the executive vice president owned 97,227 shares of the company’s stock, valued at approximately $496,829.97. This trade represents a 7.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Overdorf sold 6,225 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total value of $31,747.50. Following the completion of the transaction, the executive vice president directly owned 124,464 shares of the company’s stock, valued at approximately $634,766.40. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 32,513 shares of company stock valued at $165,973. Corporate insiders own 11.87% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several institutional investors have recently modified their holdings of ANNX. Wealth Enhancement Advisory Services LLC raised its stake in shares of Annexon by 13.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,553 shares of the company’s stock worth $100,000 after purchasing an additional 2,348 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after acquiring an additional 2,785 shares in the last quarter. Susquehanna Portfolio Strategies LLC raised its position in Annexon by 0.8% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 356,619 shares of the company’s stock worth $1,790,000 after acquiring an additional 2,875 shares in the last quarter. ProShare Advisors LLC lifted its stake in Annexon by 21.7% in the fourth quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock valued at $124,000 after acquiring an additional 4,410 shares during the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in shares of Annexon by 14.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 40,000 shares of the company’s stock valued at $122,000 after acquiring an additional 5,000 shares during the period.

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.