Annexon (NASDAQ:ANNX) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note published on Wednesday morning, Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other equities analysts have also weighed in on the company. Bank of America raised Annexon from a neutral rating to a buy rating and upped their price objective for the stock from $4.00 to $6.00 in a research note on Thursday, December 21st. JPMorgan Chase & Co. raised shares of Annexon from a neutral rating to an overweight rating and set a $11.00 price objective for the company in a research note on Friday, March 1st. Finally, Needham & Company LLC restated a buy rating and set a $16.00 target price on shares of Annexon in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and an average price target of $13.57.

Annexon Trading Up 13.5 %

NASDAQ ANNX opened at $7.81 on Wednesday. Annexon has a 12 month low of $1.57 and a 12 month high of $8.40. The stock has a market cap of $415.80 million, a price-to-earnings ratio of -4.11 and a beta of 1.10. The company’s 50 day moving average is $5.29 and its two-hundred day moving average is $3.65.

Insiders Place Their Bets

In other news, CEO Douglas Love sold 5,782 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the transaction, the chief executive officer now owns 196,121 shares in the company, valued at $1,086,510.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 8,940 shares of company stock worth $49,514 in the last ninety days. 19.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its holdings in shares of Annexon by 31.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock valued at $31,000 after purchasing an additional 1,903 shares in the last quarter. Bank of America Corp DE raised its stake in Annexon by 29.7% in the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock worth $46,000 after buying an additional 2,049 shares in the last quarter. Citigroup Inc. raised its stake in Annexon by 3.2% in the first quarter. Citigroup Inc. now owns 83,074 shares of the company’s stock worth $320,000 after buying an additional 2,565 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Annexon by 14.1% during the fourth quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock worth $115,000 after buying an additional 3,123 shares during the period. Finally, Forefront Analytics LLC boosted its position in Annexon by 18.3% during the 3rd quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock valued at $75,000 after acquiring an additional 4,890 shares in the last quarter.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.