Analysts Set Annexon, Inc. (NASDAQ:ANNX) Target Price at $16.00

Shares of Annexon, Inc. (NASDAQ:ANNX) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.00.

A number of equities research analysts have commented on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Friday, March 20th. Wall Street Zen raised shares of Annexon from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research report on Monday, April 20th. Finally, The Goldman Sachs Group initiated 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.

Insiders Place Their Bets

In other Annexon news, Director Muneer A. Satter acquired 613,497 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was purchased at an average price of $5.41 per share, with a total value of $3,319,018.77. Following the transaction, the director directly owned 10,342,134 shares in the company, valued at approximately $55,950,944.94. The trade was a 6.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Carson acquired 8,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $5.78 per share, with a total value of $46,240.00. Following the transaction, the director owned 78,405 shares in the company, valued at approximately $453,180.90. This trade represents a 11.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have bought 629,497 shares of company stock valued at $3,414,859. Insiders own 10.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANNX. AQR Capital Management LLC lifted its stake in shares of Annexon by 122.6% during the 1st quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock valued at $142,000 after buying an additional 40,637 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Annexon by 8.2% during the 1st quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock valued at $193,000 after buying an additional 7,553 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Annexon by 31.1% during the 1st quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock valued at $393,000 after buying an additional 48,345 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Annexon by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company’s stock valued at $5,484,000 after buying an additional 39,763 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Annexon by 6.6% during the 2nd quarter. American Century Companies Inc. now owns 211,195 shares of the company’s stock valued at $507,000 after buying an additional 13,001 shares in the last quarter.

Annexon Trading Down 2.6%

NASDAQ:ANNX opened at $4.52 on Wednesday. Annexon has a 12 month low of $1.85 and a 12 month high of $7.18. The company has a market cap of $740.56 million, a PE ratio of -3.70 and a beta of 1.18. The company has a 50 day simple moving average of $5.57 and a two-hundred day simple moving average of $5.45.

Annexon (NASDAQ:ANNX) last posted its earnings results on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. Research analysts forecast that Annexon will post -0.92 earnings per share for the current year.

Annexon Company Profile

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.