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

Annexon, Inc. (NASDAQ:ANNX) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $16.00.

Several research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Monday, April 20th. Chardan Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Friday, March 20th. Wall Street Zen raised shares of Annexon from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Annexon in a research note on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price objective for the company.

Insider Activity at Annexon

In other Annexon news, Director William H. Carson acquired 8,000 shares of the stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $5.78 per share, with a total value of $46,240.00. Following the completion of the purchase, the director owned 78,405 shares in the company, valued at $453,180.90. This trade represents a 11.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased a total of 24,000 shares of company stock valued at $141,200 over the last ninety days. Company insiders own 11.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ANNX. CIBC Bancorp USA Inc. purchased a new position in shares of Annexon in the third quarter valued at approximately $31,000. Engineers Gate Manager LP purchased a new position in Annexon in the second quarter worth approximately $32,000. SG Americas Securities LLC purchased a new position in Annexon in the third quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Annexon by 65.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after acquiring an additional 2,785 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in Annexon in the third quarter worth approximately $40,000.

Annexon Price Performance

Shares of ANNX opened at $5.31 on Friday. Annexon has a 1-year low of $1.85 and a 1-year high of $7.18. The stock has a market cap of $869.99 million, a PE ratio of -4.35 and a beta of 1.22. The firm has a 50-day simple moving average of $5.64 and a two-hundred day simple moving average of $5.23.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.07. As a group, sell-side analysts expect that Annexon will post -0.92 earnings per share for the current fiscal year.

About Annexon

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.