Brokerages Set Annexon, Inc. (NASDAQ:ANNX) PT at $17.00

Annexon, Inc. (NASDAQ:ANNX) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $17.00.

ANNX has been the subject of a number of research analyst reports. Chardan Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, March 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Monday.

Insider Transactions at Annexon

In related news, EVP Dean Richard Artis sold 5,290 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total value of $26,979.00. Following the completion of the transaction, the executive vice president owned 123,487 shares in the company, valued at $629,783.70. The trade was a 4.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Overdorf sold 6,225 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total transaction of $31,747.50. Following the completion of the transaction, the executive vice president owned 124,464 shares of the company’s stock, valued at $634,766.40. This trade represents a 4.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,513 shares of company stock worth $165,973 over the last ninety days. 11.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BVF Inc. IL raised its position in Annexon by 30.4% in the 4th 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 last quarter. Vanguard Group Inc. raised its position in Annexon by 8.7% in the 3rd 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 last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Annexon by 266.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock worth $27,610,000 after acquiring an additional 4,000,000 shares during the period. State Street Corp grew its holdings in Annexon by 126.9% during the 4th quarter. State Street Corp now owns 4,652,185 shares of the company’s stock worth $23,354,000 after acquiring an additional 2,601,877 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in Annexon by 154.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,299,256 shares of the company’s stock worth $16,562,000 after acquiring an additional 2,001,996 shares during the period.

Annexon Trading Down 3.2%

NASDAQ:ANNX opened at $6.06 on Tuesday. Annexon has a 1 year low of $1.60 and a 1 year high of $7.18. The firm has a 50 day moving average of $5.55 and a 200-day moving average of $4.90. The stock has a market capitalization of $984.81 million, a P/E ratio of -4.46 and a beta of 1.14.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, March 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04. As a group, analysts forecast that Annexon will post -1.13 EPS for the current fiscal year.

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.