Analysts Set Annexon, Inc. (NASDAQ:ANNX) Price Target at $16.00

Annexon, Inc. (NASDAQ:ANNX) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of analysts recently commented on ANNX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Monday, April 20th. The Goldman Sachs Group started coverage on Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 target price for the company. Wall Street Zen raised Annexon from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Friday, March 20th.

Annexon Price Performance

Shares of Annexon stock opened at $4.71 on Wednesday. Annexon has a one year low of $1.85 and a one year high of $7.18. The firm has a market capitalization of $771.69 million, a price-to-earnings ratio of -3.86 and a beta of 1.18. The business has a 50-day simple moving average of $5.60 and a 200 day simple moving average of $5.45.

Annexon (NASDAQ:ANNX) last issued its earnings results on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.07. On average, sell-side analysts expect that Annexon will post -0.92 EPS for the current year.

Insider Transactions at Annexon

In other news, Director Muneer A. Satter bought 613,497 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average cost of $5.41 per share, with a total value of $3,319,018.77. Following the transaction, the director directly owned 10,342,134 shares of the company’s stock, valued at approximately $55,950,944.94. This represents a 6.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Carson bought 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $5.78 per share, with a total value of $46,240.00. Following the completion of the transaction, the director directly owned 78,405 shares in the company, valued at $453,180.90. This represents a 11.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased a total of 629,497 shares of company stock valued at $3,414,859 over the last ninety days. 10.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Annexon

A number of hedge funds have recently added to or reduced their stakes in ANNX. CIBC Bancorp USA Inc. acquired a new position in Annexon during the 3rd quarter valued at about $31,000. Engineers Gate Manager LP acquired a new position in Annexon during the 2nd quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Annexon by 65.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock valued at $35,000 after purchasing an additional 2,785 shares during the last quarter. Savant Capital LLC acquired a new position in Annexon during the 3rd quarter valued at about $40,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Annexon during the 4th quarter valued at about $50,000.

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.