Annexon (NASDAQ:ANNX) Now Covered by Citizens Jmp

Citizens Jmp initiated coverage on shares of Annexon (NASDAQ:ANNX) in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage issued a market underperform rating and a $3.00 target price on the stock.

Other analysts have also issued reports about the company. Needham & Company LLC lifted their price target on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group initiated coverage on Annexon in a research note on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price objective for the company. Citigroup assumed coverage on shares of Annexon in a report on Tuesday. They issued a “market underperform” rating for the company. Wall Street Zen downgraded shares of Annexon from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.33.

Annexon Stock Performance

Shares of ANNX opened at $5.39 on Tuesday. Annexon has a 52 week low of $2.03 and a 52 week high of $7.18. The stock has a market capitalization of $883.11 million, a price-to-earnings ratio of -4.42 and a beta of 1.16. The stock has a fifty day moving average of $5.37 and a 200-day moving average of $5.59.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. As a group, equities analysts forecast that Annexon will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other Annexon news, Director William H. Carson purchased 8,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $5.78 per share, for a total transaction of $46,240.00. Following the acquisition, the director owned 78,405 shares in the company, valued at approximately $453,180.90. The trade was a 11.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muneer A. Satter purchased 613,497 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were acquired at an average price of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the acquisition, the director owned 10,342,134 shares in the company, valued at approximately $55,950,944.94. This trade represents a 6.31% increase in their position. The disclosure for this purchase is available in the SEC filing. 10.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annexon

Several large investors have recently added to or reduced their stakes in ANNX. Y Intercept Hong Kong Ltd bought a new position in shares of Annexon during the 1st quarter worth approximately $7,312,000. BVF Inc. IL lifted its position in shares of Annexon by 30.4% during the 4th quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock valued at $45,823,000 after acquiring an additional 2,128,080 shares during the period. Ishara Investments LP bought a new position in Annexon during the fourth quarter worth $3,765,000. Strs Ohio acquired a new stake in Annexon in the first quarter worth $307,000. Finally, Abel Hall LLC bought a new stake in Annexon in the first quarter valued at $61,000.

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.