Annexon, Inc. (NASDAQ:ANNX – Get Free Report)’s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $4.16 and traded as high as $4.23. Annexon shares last traded at $4.19, with a volume of 4,280,895 shares trading hands.
Analyst Ratings Changes
ANNX has been the subject of several recent research reports. Citizens Jmp upgraded Annexon from an “underperform” rating to a “market perform” rating in a report on Thursday, August 13th. Citigroup began coverage on shares of Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Annexon from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.29.
Annexon Stock Performance
The stock has a fifty day moving average price of $4.16 and a 200-day moving average price of $5.20. The firm has a market capitalization of $794.34 million, a PE ratio of -3.61 and a beta of 1.43.
Annexon (NASDAQ:ANNX – Get Free Report) last released 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). Research analysts expect that Annexon, Inc. will post -1.05 earnings per share for the current fiscal year.
Insider Transactions at Annexon
In related news, CEO Douglas Love bought 26,065 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were bought at an average price of $3.83 per share, for a total transaction of $99,828.95. Following the completion of the purchase, the chief executive officer directly owned 390,476 shares of the company’s stock, valued at approximately $1,495,523.08. This trade represents a 7.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.31% of the stock is owned by company insiders.
Institutional Trading of Annexon
A number of institutional investors have recently modified their holdings of ANNX. Candriam S.C.A. raised its stake in shares of Annexon by 40.5% during the 3rd quarter. Candriam S.C.A. now owns 1,678,986 shares of the company’s stock worth $7,128,000 after acquiring an additional 483,844 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in Annexon by 203.5% during the third quarter. AlphaCentric Advisors LLC now owns 75,495 shares of the company’s stock valued at $319,000 after acquiring an additional 50,623 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Annexon in the third quarter valued at approximately $41,000. China Universal Asset Management Co. Ltd. boosted its stake in Annexon by 86.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 115,591 shares of the company’s stock valued at $477,000 after acquiring an additional 53,515 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Annexon by 81.8% in the third quarter. SBI Securities Co. Ltd. now owns 42,225 shares of the company’s stock valued at $179,000 after acquiring an additional 19,000 shares in the last quarter.
Annexon Company Profile
Annexon, Inc (NASDAQ: ANNX) is a clinical-stage biotechnology company developing therapies for diseases associated with abnormal activation of the classical complement pathway. The company’s approach is designed to selectively inhibit complement activity while preserving the immune system’s ability to perform essential functions.
Annexon’s pipeline has included ANX005, a monoclonal antibody targeting C1q, the initiating protein of the classical complement pathway. The company has evaluated ANX005 in immune-mediated and neuroinflammatory disorders, including Guillain-Barré syndrome.
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