Annexon, Inc. (NASDAQ:ANNX) Given Average Recommendation of “Hold” by Brokerages

Annexon, Inc. (NASDAQ:ANNX) has earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $15.3333.

Several analysts have commented on ANNX shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Monday, July 13th. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Annexon in a research report on Monday, July 20th. 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 target on the stock. Needham & Company LLC boosted their price target on shares of Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Friday, July 17th.

Annexon Trading Down 3.4%

Shares of Annexon stock traded down $0.17 during trading hours on Monday, reaching $4.90. The stock had a trading volume of 612,562 shares, compared to its average volume of 2,923,579. The stock’s 50 day moving average is $5.38 and its 200 day moving average is $5.46. Annexon has a twelve month low of $2.03 and a twelve month high of $7.18. The firm has a market capitalization of $928.18 million, a PE ratio of -4.22 and a beta of 1.18.

Annexon (NASDAQ:ANNX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). As a group, sell-side analysts predict that Annexon will post -1.01 earnings per share for the current year.

Insider Buying and Selling at Annexon

In related news, Director Muneer A. Satter purchased 613,497 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were purchased at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the purchase, the director owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. This represents a 6.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.31% of the stock is currently owned by company insiders.

Institutional Trading of Annexon

Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Annexon by 122.6% in the 1st quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock valued at $142,000 after purchasing an additional 40,637 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Annexon by 8.2% in the 1st quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock worth $193,000 after acquiring an additional 7,553 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Annexon by 31.1% during the 1st quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock worth $393,000 after acquiring an additional 48,345 shares during the period. Geode Capital Management LLC raised its holdings in shares of Annexon by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company’s stock worth $5,484,000 after acquiring an additional 39,763 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Annexon by 6.6% in the 2nd quarter. American Century Companies Inc. now owns 211,195 shares of the company’s stock valued at $507,000 after purchasing an additional 13,001 shares during the last quarter.

Annexon Company Profile

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.