Annexon, Inc. (NASDAQ:ANNX) Stock Has Average Price Target of $15.29

Annexon, Inc. (NASDAQ:ANNX) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.29.

Several research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Annexon in a research report on Monday, July 20th. Citizens Jmp raised shares of Annexon from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Monday, July 13th. Citigroup began coverage on shares of Annexon in a research report on Tuesday, July 21st. They set a “market underperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Thursday, October 15th.

Insider Transactions at Annexon

In related news, CEO Douglas Love acquired 26,065 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the completion of the transaction, the chief executive officer owned 390,476 shares in the company, valued at approximately $1,495,523.08. This trade represents a 7.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.31% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ANNX. Integrated Wealth Concepts LLC increased its holdings in Annexon by 32.3% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock worth $77,000 after purchasing an additional 3,305 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Annexon by 3.6% in the first quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock valued at $747,000 after buying an additional 4,684 shares in the last quarter. Fifth Third Bancorp boosted its stake in Annexon by 12.6% during the 3rd quarter. Fifth Third Bancorp now owns 43,500 shares of the company’s stock worth $184,000 after purchasing an additional 4,860 shares during the last quarter. ADAR1 Capital Management LLC grew its stake in shares of Annexon by 14.6% in the 1st quarter. ADAR1 Capital Management LLC now owns 55,000 shares of the company’s stock valued at $305,000 after buying an additional 7,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Annexon in the third quarter worth $41,000.

Annexon Trading Up 4.7%

Shares of NASDAQ ANNX opened at $4.20 on Friday. The company has a 50 day simple moving average of $4.11 and a two-hundred day simple moving average of $5.17. Annexon has a 12 month low of $2.54 and a 12 month high of $7.18. The stock has a market cap of $796.24 million, a price-to-earnings ratio of -3.62 and a beta of 1.43.

Annexon (NASDAQ:ANNX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Analysts forecast that Annexon will post -1.05 EPS for the current year.

About Annexon

Annexon, Inc (NASDAQ: ANNX) is a clinical-stage biotechnology company developing therapies for diseases associated with abnormal activation of the classical complement pathway. The company’s approach is designed to selectively inhibit complement activity while preserving the immune system’s ability to perform essential functions.

Annexon’s pipeline has included ANX005, a monoclonal antibody targeting C1q, the initiating protein of the classical complement pathway. The company has evaluated ANX005 in immune-mediated and neuroinflammatory disorders, including Guillain-Barré syndrome.