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

Annexon, Inc. (NASDAQ:ANNX) has been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.00.

A number of equities analysts recently commented on ANNX shares. Chardan Capital reaffirmed a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Friday, March 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st.

Annexon Price Performance

ANNX stock opened at $5.00 on Friday. Annexon has a fifty-two week low of $1.28 and a fifty-two week high of $7.18. The stock has a market capitalization of $598.15 million, a price-to-earnings ratio of -3.55 and a beta of 1.15. The business’s fifty day moving average price is $5.64 and its two-hundred day moving average price is $4.52.

Insiders Place Their Bets

In other Annexon news, EVP Dean Richard Artis sold 5,290 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total transaction of $26,979.00. Following the transaction, the executive vice president owned 123,487 shares in the company, valued at $629,783.70. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Overdorf sold 6,225 shares of Annexon stock in a transaction on 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 $634,766.40. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,513 shares of company stock valued at $165,973 in the last quarter. Company insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Several large investors have recently modified their holdings of ANNX. BVF Inc. IL increased its position in shares of 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 purchasing an additional 2,128,080 shares during the period. Vanguard Group Inc. lifted its position in Annexon by 8.7% during the third quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock worth $17,797,000 after purchasing an additional 469,073 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in Annexon by 266.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock worth $27,610,000 after purchasing an additional 4,000,000 shares during the period. State Street Corp grew its stake in Annexon by 126.9% during the fourth quarter. State Street Corp now owns 4,652,185 shares of the company’s stock worth $23,354,000 after buying an additional 2,601,877 shares in the last quarter. Finally, Sio Capital Management LLC increased its holdings in Annexon by 20.5% in the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after buying an additional 697,978 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.