Analysts Set Annexon, Inc. (NASDAQ:ANNX) Target Price at $17.00

Annexon, Inc. (NASDAQ:ANNX) has been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of research firms have recently commented on ANNX. Wells Fargo & Company increased their target price on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Chardan Capital initiated coverage on shares of Annexon in a research report on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday.

Annexon Stock Performance

Shares of ANNX opened at $6.07 on Friday. Annexon has a fifty-two week low of $1.28 and a fifty-two week high of $6.83. The firm’s 50-day simple moving average is $4.67 and its two-hundred day simple moving average is $3.37. The stock has a market cap of $726.17 million, a PE ratio of -4.30 and a beta of 1.19.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Equities research analysts predict that Annexon will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other Annexon news, Director Jung Choi purchased 33,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was purchased at an average price of $4.19 per share, for a total transaction of $138,270.00. Following the completion of the purchase, the director directly owned 33,000 shares of the company’s stock, valued at $138,270. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Muneer A. Satter acquired 422,613 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $4.28 per share, for a total transaction of $1,808,783.64. Following the completion of the transaction, the director directly owned 9,728,637 shares of the company’s stock, valued at $41,638,566.36. The trade was a 4.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 1,867,958 shares of company stock valued at $7,256,150. Corporate insiders own 11.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Matauro LLC purchased a new stake in Annexon in the second quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Annexon in the 2nd quarter worth $29,000. 49 Wealth Management LLC purchased a new position in shares of Annexon in the 2nd quarter worth $29,000. CIBC Bancorp USA Inc. bought a new stake in shares of Annexon in the third quarter worth $31,000. Finally, Engineers Gate Manager LP purchased a new stake in Annexon during the second quarter valued at $32,000.

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.