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

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

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

Insider Activity at Annexon

In other news, Director Jung Choi purchased 33,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was acquired at an average price of $4.19 per share, for a total transaction of $138,270.00. Following the acquisition, the director directly owned 33,000 shares of the company’s stock, valued at approximately $138,270. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Muneer A. Satter acquired 422,613 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average price of $4.28 per share, for a total transaction of $1,808,783.64. Following the completion of the acquisition, the director directly owned 9,728,637 shares of the company’s stock, valued at $41,638,566.36. The trade was a 4.54% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 1,863,843 shares of company stock valued at $7,243,105. Corporate insiders own 11.87% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Annexon during the 2nd quarter worth about $29,000. 49 Wealth Management LLC purchased a new position in Annexon during the second quarter worth about $29,000. CIBC Bancorp USA Inc. purchased a new position in Annexon during the third quarter worth about $31,000. Engineers Gate Manager LP acquired a new stake in shares of Annexon during the second quarter valued at about $32,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Annexon in the 3rd quarter valued at approximately $34,000.

Annexon Price Performance

ANNX opened at $5.73 on Thursday. The firm has a market capitalization of $685.48 million, a price-to-earnings ratio of -4.06 and a beta of 1.17. The company’s 50 day simple moving average is $5.48 and its two-hundred day simple moving average is $3.77. Annexon has a 1-year low of $1.28 and a 1-year high of $7.18.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results 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). On average, equities analysts anticipate that Annexon will post -0.96 earnings per share 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.