Annexon, Inc. (NASDAQ:ANNX) Receives Average Recommendation of “Hold” from Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $15.3333.

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Annexon in a research report on Tuesday, May 12th. They set a “neutral” rating and a $7.00 price objective for the company. Citizens Jmp assumed coverage on shares of Annexon in a research report on Tuesday, July 21st. They set a “market underperform” rating and a $3.00 price target for the company. Wall Street Zen cut shares of Annexon from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. Finally, Citigroup started coverage on Annexon in a research note on Tuesday, July 21st. They set a “market underperform” rating on the stock.

Insider Transactions at Annexon

In other Annexon news, Director William H. Carson acquired 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $5.78 per share, for a total transaction of $46,240.00. Following the completion of the acquisition, the director owned 78,405 shares of the company’s stock, valued at approximately $453,180.90. This trade represents a 11.36% increase in their position. The acquisition was disclosed in a document filed 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. Also, Director Muneer A. Satter bought 613,497 shares of Annexon stock in a transaction on Thursday, May 28th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the completion of the acquisition, the director owned 10,342,134 shares in the company, valued at $55,950,944.94. This represents a 6.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 10.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. CIBC Bancorp USA Inc. purchased a new position in Annexon in the third quarter valued at $31,000. Engineers Gate Manager LP acquired a new stake in shares of Annexon during the 2nd quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after purchasing an additional 2,785 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Annexon during the fourth quarter worth approximately $50,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Annexon in the fourth quarter valued at approximately $52,000.

Annexon Stock Up 4.2%

Shares of ANNX stock traded up $0.20 during trading hours on Thursday, hitting $5.07. 345,232 shares of the company’s stock were exchanged, compared to its average volume of 2,969,336. Annexon has a fifty-two week low of $2.03 and a fifty-two week high of $7.18. The firm has a market cap of $829.85 million, a P/E ratio of -4.16 and a beta of 1.16. The firm has a 50 day moving average of $5.36 and a two-hundred day moving average of $5.59.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.07. On average, equities analysts forecast 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.