Annexon (NASDAQ:ANNX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Annexon (NASDAQ:ANNX) from a sell rating to a strong sell rating in a report issued on Saturday.

ANNX has been the topic of a number of other reports. Needham & Company LLC upped 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 reissued a “buy” rating and set a $14.00 price objective on shares of Annexon in a research report on Monday, July 20th. Citizens Jmp upgraded Annexon from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 13th. The Goldman Sachs Group initiated coverage on Annexon in a research note on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.33.

Annexon Stock Performance

Shares of ANNX opened at $5.13 on Friday. The company has a market capitalization of $972.55 million, a PE ratio of -4.42 and a beta of 1.18. The company’s 50 day moving average price is $5.35 and its 200 day moving average price is $5.49. Annexon has a 52 week low of $2.03 and a 52 week high of $7.18.

Annexon (NASDAQ:ANNX) last released its earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). On average, equities analysts forecast that Annexon will post -1 earnings per share for the current fiscal year.

Insider Transactions at Annexon

In other Annexon news, Director Muneer A. Satter bought 613,497 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was bought at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the completion of the transaction, the director directly owned 10,342,134 shares of the company’s stock, valued at approximately $55,950,944.94. The trade was a 6.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new stake in shares of Annexon in the 3rd quarter valued at $31,000. Engineers Gate Manager LP bought a new stake in Annexon in the second quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in Annexon by 65.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after buying an additional 2,785 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Annexon during the fourth quarter worth $50,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Annexon during the fourth quarter worth $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.