Annexon (NASDAQ:ANNX) Sets New 1-Year High – What’s Next?

Annexon, Inc. (NASDAQ:ANNX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.90 and last traded at $5.8950, with a volume of 580974 shares trading hands. The stock had previously closed at $5.56.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Finally, Chardan Capital initiated coverage on Annexon in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 price target for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Annexon Stock Performance

The company has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $3.27. The stock has a market capitalization of $738.72 million, a price-to-earnings ratio of -4.38 and a beta of 1.19.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities analysts anticipate that Annexon, Inc. will post -0.96 earnings per share for the current year.

Insider Activity

In other news, Director Muneer A. Satter acquired 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $3.94 per share, with a total value of $1,970,000.00. Following the completion of the purchase, the director directly owned 8,906,024 shares of the company’s stock, valued at $35,089,734.56. The trade was a 5.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jung Choi bought 33,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were acquired at an average price of $4.19 per share, with a total value of $138,270.00. Following the completion of the purchase, the director directly owned 33,000 shares of the company’s stock, valued at approximately $138,270. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 1,867,958 shares of company stock worth $7,256,150. Insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its position in Annexon by 122.6% in the first quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock valued at $142,000 after acquiring an additional 40,637 shares during the last quarter. Jane Street Group LLC grew its position in Annexon by 8.2% during the 1st quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock worth $193,000 after acquiring an additional 7,553 shares during the last quarter. Acadian Asset Management LLC grew its position in Annexon by 31.1% during the 1st quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock worth $393,000 after acquiring an additional 48,345 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Annexon by 36.1% in the 2nd quarter. Park Avenue Securities LLC now owns 113,068 shares of the company’s stock worth $271,000 after purchasing an additional 30,000 shares in the last quarter. Finally, J. Safra Sarasin Holding AG raised its position in Annexon by 49.9% in the second quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company’s stock valued at $915,000 after purchasing an additional 126,903 shares during the last quarter.

About Annexon

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.