Annexon (NASDAQ:ANNX) Shares Up 6.2% – Time to Buy?

Annexon, Inc. (NASDAQ:ANNX)’s stock price was up 6.2% during mid-day trading on Monday . The company traded as high as $5.00 and last traded at $4.8950. Approximately 392,509 shares traded hands during trading, a decline of 78% from the average daily volume of 1,796,678 shares. The stock had previously closed at $4.61.

Analyst Ratings Changes

Several brokerages recently commented on ANNX. Zacks Research raised shares of Annexon from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Annexon in a report on Friday, August 15th. Wells Fargo & Company increased their target price on Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.33.

Annexon Stock Performance

The stock’s 50-day moving average is $3.40 and its two-hundred day moving average is $2.77. The stock has a market cap of $578.41 million, a PE ratio of -3.43 and a beta of 1.20.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Analysts forecast that Annexon, Inc. will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other Annexon news, Director Muneer A. Satter purchased 422,613 shares of the business’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $4.28 per share, for a total transaction of $1,808,783.64. Following the completion of the purchase, the director directly owned 9,728,637 shares in the company, valued at approximately $41,638,566.36. This represents a 4.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jung Choi acquired 33,000 shares of the stock in a transaction dated Monday, December 1st. The shares were acquired at an average cost of $4.19 per share, with a total value of $138,270.00. Following the completion of the transaction, the director owned 33,000 shares in the company, valued at approximately $138,270. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 1,867,958 shares of company stock worth $7,248,043 over the last 90 days. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Several institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. acquired a new stake in Annexon during the third quarter worth approximately $31,000. SG Americas Securities LLC purchased a new stake in Annexon in the third quarter valued at $34,000. Matauro LLC acquired a new position in Annexon in the second quarter valued at $27,000. 49 Wealth Management LLC purchased a new position in shares of Annexon during the second quarter worth about $29,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Annexon during the second quarter worth about $29,000.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.