Annexon, Inc. (NASDAQ:ANNX) Receives Consensus Rating of “Hold” from Brokerages

Annexon, Inc. (NASDAQ:ANNX) has been given a consensus rating of “Hold” by the ten ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.14.

A number of research firms have recently commented on ANNX. Citigroup assumed coverage on shares of Annexon in a research report on Tuesday, July 21st. They issued a “market underperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Annexon in a research note on Monday, July 20th. Citizens Jmp upgraded shares of Annexon from an “underperform” rating to a “market perform” rating in a report on Thursday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Monday, July 13th.

Hedge Funds Weigh In On Annexon

Institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd lifted its position in shares of Annexon by 98.3% during the 2nd quarter. WINTON GROUP Ltd now owns 47,800 shares of the company’s stock worth $273,000 after purchasing an additional 23,700 shares during the last quarter. Engineers Gate Manager LP grew its holdings in Annexon by 83.2% in the 2nd quarter. Engineers Gate Manager LP now owns 319,057 shares of the company’s stock valued at $1,822,000 after buying an additional 144,916 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Annexon by 32.3% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock valued at $77,000 after buying an additional 3,305 shares during the last quarter. Squarepoint Ops LLC increased its position in Annexon by 155.0% in the 2nd quarter. Squarepoint Ops LLC now owns 173,285 shares of the company’s stock worth $989,000 after buying an additional 105,329 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Annexon in the 2nd quarter worth approximately $310,000.

Annexon Stock Performance

ANNX opened at $3.80 on Friday. The company has a market cap of $720.40 million, a PE ratio of -3.28 and a beta of 1.21. The stock has a 50-day moving average of $4.91 and a 200-day moving average of $5.32. Annexon has a 52-week low of $2.54 and a 52-week high of $7.18.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). On average, research analysts predict that Annexon will post -1.04 earnings per share for the current year.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company’s approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon’s lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.