Annexon (NASDAQ:ANNX) Coverage Initiated by Analysts at Citizens Jmp

Stock analysts at Citizens Jmp started coverage on shares of Annexon (NASDAQ:ANNX) in a research note issued on Tuesday,Benzinga reports. The firm set a “market underperform” rating and a $3.00 price target on the stock. Citizens Jmp’s price objective indicates a potential downside of 46.14% from the company’s previous close.

Several other research firms have also recently commented on ANNX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. Wall Street Zen cut shares of Annexon from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Needham & Company LLC increased their price target on shares of Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Annexon in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.33.

Annexon Stock Down 4.0%

Shares of ANNX stock opened at $5.57 on Tuesday. The stock has a fifty day moving average of $5.37 and a 200 day moving average of $5.58. Annexon has a 52 week low of $2.03 and a 52 week high of $7.18. The firm has a market capitalization of $912.59 million, a price-to-earnings ratio of -4.57 and a beta of 1.16.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.07. Equities research analysts anticipate that Annexon will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Annexon

In other Annexon news, Director Muneer A. Satter purchased 613,497 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average cost of $5.41 per share, for a total transaction of $3,319,018.77. Following the purchase, the director directly owned 10,342,134 shares in the company, valued at $55,950,944.94. The trade was a 6.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Carson purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $5.78 per share, with a total value of $46,240.00. Following the completion of the purchase, the director owned 78,405 shares in the company, valued at $453,180.90. This represents a 11.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.31% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. bought a new position in shares of Annexon during the third quarter valued at approximately $31,000. Engineers Gate Manager LP purchased a new position in shares of Annexon during the second quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Annexon by 65.6% in the 4th 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 in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Annexon in the 4th quarter worth approximately $50,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Annexon in the 4th quarter worth approximately $52,000.

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.