Annexon, Inc. (NASDAQ:ANNX) Receives Average Rating of “Hold” from Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned an average rating of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $17.3333.

ANNX has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Annexon in a report on Friday, August 15th. Zacks Research upgraded Annexon from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Wells Fargo & Company increased their target price on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th.

Annexon Price Performance

Shares of NASDAQ:ANNX remained flat at $4.27 during trading on Friday. The stock had a trading volume of 3,830,149 shares, compared to its average volume of 1,768,223. The stock has a market capitalization of $510.83 million, a P/E ratio of -3.31 and a beta of 1.28. Annexon has a one year low of $1.28 and a one year high of $5.66. The company has a fifty day moving average price of $3.09 and a two-hundred day moving average price of $2.58.

Annexon (NASDAQ:ANNX) last issued its earnings results on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, analysts forecast that Annexon will post -0.96 earnings per share for the current year.

Insider Activity

In other Annexon news, Director Muneer A. Satter purchased 500,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $3.94 per share, for a total transaction of $1,970,000.00. Following the transaction, the director directly owned 8,906,024 shares in the company, valued at $35,089,734.56. This represents a 5.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 1,830,843 shares of company stock valued at $7,091,379. 11.87% of the stock is currently owned by company insiders.

Institutional Trading of Annexon

A number of institutional investors have recently bought and sold shares of the business. Woodline Partners LP raised its position in shares of Annexon by 150.4% in the 3rd quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock valued at $8,047,000 after acquiring an additional 1,584,566 shares during the period. Sio Capital Management LLC raised its holdings in Annexon by 20.5% in the second quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after purchasing an additional 697,978 shares during the period. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Bank of America Corp DE grew its holdings in shares of Annexon by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 1,452,795 shares of the company’s stock valued at $3,487,000 after buying an additional 414,071 shares during the period. Finally, Rhenman & Partners Asset Management AB increased its position in shares of Annexon by 78.9% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock valued at $2,510,000 after buying an additional 363,000 shares in the last quarter.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.