Annexon, Inc. (NASDAQ:ANNX) Stock Has Consensus Target Price of $15.29 According to Analysts

Annexon, Inc. (NASDAQ:ANNX – Get Free Report) has been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $15.29.

ANNX has been the topic of several analyst reports. Citizens Jmp upgraded Annexon from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 13th. Needham & Company LLC boosted their target price on Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Citigroup assumed coverage on Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Annexon in a research report on Monday, July 20th.

Check Out Our Latest Research Report on ANNX

Annexon Stock Down 1.5%

Annexon stock opened at $3.96 on Tuesday. The firm has a market cap of $750.74 million, a PE ratio of -3.41 and a beta of 1.32. Annexon has a 52-week low of $2.54 and a 52-week high of $7.18. The company’s 50 day moving average is $4.62 and its two-hundred day moving average is $5.19.

Annexon (NASDAQ:ANNX – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). On average, equities research analysts anticipate that Annexon will post -1.05 earnings per share for the current fiscal year.

Insider Activity at Annexon

In other news, CEO Douglas Love bought 26,065 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the completion of the purchase, the chief executive officer owned 390,476 shares of the company’s stock, valued at approximately $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.31% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ANNX. Redmile Group LLC lifted its holdings in Annexon by 44.8% during the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after buying an additional 4,499,124 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Annexon during the 2nd quarter worth about $77,312,000. BVF Inc. IL increased its holdings in shares of Annexon by 30.4% in 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 last quarter. Bank of America Corp DE increased its holdings in shares of Annexon by 165.3% in the 1st quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock valued at $23,600,000 after acquiring an additional 2,654,414 shares during the last quarter. Finally, Siren L.L.C. acquired a new stake in shares of Annexon during the 1st quarter worth about $21,931,000.

Annexon Company Profile

(Get Free Report)

Annexon, Inc is a clinical-stage biopharmaceutical company developing therapies for diseases driven by activation of the classical complement pathway, an immune-system mechanism involved in inflammation and tissue damage. The company’s approach is designed to selectively inhibit complement activity while preserving other parts of the immune response.

Annexon’s pipeline has included ANX005, an investigational monoclonal antibody that targets C1q, an initiating protein in the classical complement pathway.

Further Reading

Analyst Recommendations for Annexon (NASDAQ:ANNX)

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