Annexon’s (ANNX) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital restated their buy rating on shares of Annexon (NASDAQ:ANNX) in a report issued on Friday morning,Benzinga reports. The firm currently has a $16.00 price objective on the stock.

A number of other brokerages have also commented on ANNX. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Annexon Stock Performance

Shares of Annexon stock opened at $5.11 on Friday. The stock has a market capitalization of $611.32 million, a PE ratio of -3.62 and a beta of 1.15. Annexon has a 52 week low of $1.28 and a 52 week high of $7.18. The stock has a 50 day moving average price of $5.74 and a two-hundred day moving average price of $4.38.

Insider Activity at Annexon

In other Annexon news, EVP Michael Overdorf sold 6,225 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total value of $31,747.50. Following the completion of the sale, the executive vice president owned 124,464 shares in the company, valued at approximately $634,766.40. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ted Yednock sold 7,857 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total transaction of $40,149.27. Following the completion of the sale, the executive vice president owned 97,227 shares of the company’s stock, valued at approximately $496,829.97. This trade represents a 7.48% decrease in their position. 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. Insiders own 11.87% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several institutional investors have recently modified their holdings of the business. Sirios Capital Management L P lifted its holdings in Annexon by 28.7% during the second quarter. Sirios Capital Management L P now owns 989,577 shares of the company’s stock worth $2,375,000 after acquiring an additional 220,891 shares during the period. Rhenman & Partners Asset Management AB grew its stake in Annexon by 78.9% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock valued at $2,510,000 after purchasing an additional 363,000 shares during the period. Sio Capital Management LLC increased its position in shares of Annexon by 20.5% during the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after purchasing an additional 697,978 shares during the last quarter. TFG Asset Management GP Ltd increased its position in shares of Annexon by 6.0% during the 2nd quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock valued at $6,744,000 after purchasing an additional 160,000 shares during the last quarter. Finally, DNB Asset Management AS raised its stake in shares of Annexon by 33.9% during the 2nd quarter. DNB Asset Management AS now owns 99,574 shares of the company’s stock worth $239,000 after purchasing an additional 25,195 shares during the period.

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.