Annexon (NASDAQ:ANNX) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note published on Friday morning,Benzinga reports. They currently have a $30.00 target price on the stock. HC Wainwright also issued estimates for Annexon’s FY2027 earnings at $0.49 EPS and FY2028 earnings at $0.90 EPS.

A number of other analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Annexon in a report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Monday, September 9th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Annexon has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Down 10.8 %

NASDAQ ANNX opened at $5.46 on Friday. The company has a market capitalization of $576.87 million, a P/E ratio of -5.20 and a beta of 1.23. Annexon has a 12-month low of $2.27 and a 12-month high of $8.40. The firm has a 50-day moving average price of $6.91 and a two-hundred day moving average price of $5.93.

Insider Buying and Selling

In other news, EVP Ted Yednock sold 5,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $56,400. This represents a 35.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 20,908 shares of company stock worth $135,768 in the last three months. 12.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annexon

Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its stake in shares of Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after purchasing an additional 2,949 shares during the last quarter. Sandia Investment Management LP bought a new stake in shares of Annexon in the 2nd quarter valued at $49,000. Victory Capital Management Inc. bought a new stake in shares of Annexon in the 2nd quarter valued at $51,000. Principal Financial Group Inc. bought a new position in Annexon during the second quarter worth $56,000. Finally, Comerica Bank bought a new position in Annexon during the first quarter worth $72,000.

Annexon Company Profile

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.