Candriam S.C.A. Purchases 483,844 Shares of Annexon, Inc. $ANNX

Candriam S.C.A. lifted its position in shares of Annexon, Inc. (NASDAQ:ANNX) by 40.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,678,986 shares of the company’s stock after buying an additional 483,844 shares during the period. Candriam S.C.A.’s holdings in Annexon were worth $7,128,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Redmile Group LLC raised its position in Annexon by 44.8% in the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock valued at $80,606,000 after buying an additional 4,499,124 shares during the last quarter. BlackRock Inc. acquired a new position in Annexon during the 2nd quarter worth approximately $77,312,000. Bank of America Corp DE boosted its position in Annexon by 165.3% during the 1st quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock worth $23,600,000 after acquiring an additional 2,654,414 shares during the last quarter. Siren L.L.C. acquired a new position in Annexon during the 1st quarter worth approximately $21,931,000. Finally, Palo Alto Investors LP acquired a new position in Annexon during the 2nd quarter worth approximately $16,833,594.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ANNX shares. JPMorgan Chase & Co. raised their price target on shares of Annexon from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Needham & Company LLC boosted their price objective on shares of Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Annexon in a report on Monday, July 20th. Citizens Jmp upgraded shares of Annexon from an “underperform” rating to a “market perform” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.29.

Annexon Stock Performance

Shares of NASDAQ ANNX opened at $4.23 on Tuesday. The business has a 50-day moving average of $4.09 and a 200-day moving average of $5.16. Annexon, Inc. has a fifty-two week low of $2.54 and a fifty-two week high of $7.18.

Annexon (NASDAQ:ANNX) last released its earnings results on Monday, November 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.03. Research analysts anticipate that Annexon, Inc. will post -1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Douglas Love purchased 26,065 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was 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 directly owned 390,476 shares in the company, valued at $1,495,523.08. This trade 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. 10.31% of the stock is currently owned by corporate insiders.

Annexon 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.