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

Shares of Annexon, Inc. (NASDAQ:ANNX) rose 6.2% on Monday . The company traded as high as $5.00 and last traded at $4.8950. Approximately 392,509 shares changed 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.

Analysts Set New Price Targets

ANNX has been the topic of several recent research reports. Zacks Research upgraded Annexon from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Annexon in a research note on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.33.

Annexon Stock Performance

The company has a market capitalization of $583.21 million, a price-to-earnings ratio of -3.48 and a beta of 1.20. The company has a 50-day moving average price of $3.48 and a 200-day moving average price of $2.81.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). As a group, sell-side analysts anticipate that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Annexon

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ANNX. CIBC Bancorp USA Inc. bought a new stake in shares of Annexon in the third quarter valued at about $31,000. SG Americas Securities LLC bought a new position in shares of Annexon during the 3rd quarter worth approximately $34,000. Matauro LLC bought a new position in shares of Annexon during the 2nd quarter worth approximately $27,000. 49 Wealth Management LLC acquired a new stake in shares of Annexon in the second quarter valued at approximately $29,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Annexon in the second quarter worth $29,000.

Annexon Company Profile

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.