Annexon (NASDAQ:ANNX) Stock Breaks Below 50-Day Moving Average – Here’s Why

Annexon, Inc. (NASDAQ:ANNX)’s share price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $4.04 and traded as low as $3.87. Annexon shares last traded at $3.97, with a volume of 4,463,079 shares trading hands.

Key Annexon News

Here’s some of the latest news about ANNX:

• Positive Sentiment: HC Wainwright raised its FY2030 EPS forecast to $1.61 from $1.36 and its FY2029 estimate to $0.65 from $0.58, reflecting improved longer-range earnings expectations.
• Neutral Sentiment: Despite the estimate revisions, HC Wainwright maintained its Buy rating and $14 target. A separate report said analysts’ consensus price target is $15.29. Article: Annexon consensus price target
• Negative Sentiment: HC Wainwright cut EPS forecasts for Q4 2026 and each quarter of 2027, as well as FY2027 (to a loss of $0.99 per share from $0.69) and FY2028 (to a loss of $0.26 from $0.16). These revisions point to larger expected losses in the nearer term and could weigh on ANNX shares.

Analysts Set New Price Targets

A number of research firms recently commented on ANNX. Citizens Jmp upgraded shares of Annexon from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Annexon in a research note on Monday, July 20th. Citigroup initiated coverage on Annexon in a research report on Tuesday, July 21st. They set a “market underperform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Annexon from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.29.

Annexon Stock Down 5.3%

The stock has a market capitalization of $757.32 million, a P/E ratio of -3.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.79 and a quick ratio of 5.53. The stock’s fifty day moving average is $4.04 and its two-hundred day moving average is $5.12.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Monday, November 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.03. As a group, research analysts predict that Annexon, Inc. will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Annexon

In related news, CEO Douglas Love bought 26,065 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were acquired at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the acquisition, the chief executive officer directly owned 390,476 shares of the company’s stock, valued at $1,495,523.08. The trade was a 7.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 10.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Annexon

Hedge funds have recently modified their holdings of the stock. Redmile Group LLC boosted its position in shares of 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 purchasing an additional 4,499,124 shares during the period. BlackRock Inc. purchased a new position in Annexon in the 2nd quarter worth about $77,312,000. Bank of America Corp DE increased its stake in Annexon by 165.3% in the 1st quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock worth $23,600,000 after purchasing an additional 2,654,414 shares in the last quarter. Siren L.L.C. acquired a new stake in Annexon during the 1st quarter worth about $21,931,000. Finally, Palo Alto Investors LP acquired a new stake in Annexon during the 2nd quarter worth about $16,833,594.

Annexon Company Profile

Annexon is a clinical-stage biopharmaceutical company developing antibody-based therapies for diseases driven by the complement system, a part of the immune system involved in inflammation and tissue damage. The company focuses on the classical complement pathway, which it aims to inhibit selectively. Its investigational programs are designed for complement-related autoimmune, inflammatory and neurodegenerative conditions. These include treatments being studied for disorders affecting the nervous system and the eye.