Annexon, Inc. (NASDAQ:ANNX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have received an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.00.

Several equities analysts recently issued reports on ANNX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price objective on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Wednesday, January 21st. Finally, Chardan Capital began coverage on Annexon in a research report on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price target on the stock.

Annexon Trading Down 5.0%

Shares of ANNX opened at $5.16 on Monday. The firm has a market cap of $617.29 million, a price-to-earnings ratio of -3.66 and a beta of 1.15. The stock has a 50 day moving average of $5.64 and a 200-day moving average of $4.14. Annexon has a 52 week low of $1.28 and a 52 week high of $7.18.

Insider Transactions at Annexon

In other Annexon news, EVP Michael Overdorf sold 6,225 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total value of $31,747.50. Following the sale, the executive vice president directly owned 124,464 shares in the company, valued at approximately $634,766.40. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jamie Dananberg sold 5,290 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total transaction of $26,979.00. Following the transaction, the insider directly owned 73,152 shares of the company’s stock, valued at $373,075.20. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 32,513 shares of company stock valued at $165,973 over the last three months. 11.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its stake in Annexon by 266.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock valued at $27,610,000 after acquiring an additional 4,000,000 shares in the last quarter. Mak Capital One LLC bought a new position in Annexon in the 4th quarter valued at about $14,852,000. State Street Corp increased its stake in Annexon by 126.9% during the 4th quarter. State Street Corp now owns 4,652,185 shares of the company’s stock valued at $23,354,000 after buying an additional 2,601,877 shares during the period. Nuveen LLC increased its stake in Annexon by 327.1% during the 4th quarter. Nuveen LLC now owns 2,915,324 shares of the company’s stock valued at $14,635,000 after buying an additional 2,232,766 shares during the period. Finally, BVF Inc. IL raised its position in shares of Annexon by 30.4% during the 4th quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock worth $45,823,000 after buying an additional 2,128,080 shares in the last quarter.

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.