Analysts Set Annexon, Inc. (NASDAQ:ANNX) Price Target at $15.33

Annexon, Inc. (NASDAQ:ANNX) has been given an average recommendation of “Hold” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.3333.

A number of equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Annexon in a research report on Monday, July 20th. Wall Street Zen downgraded Annexon from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. The Goldman Sachs Group initiated coverage on Annexon in a research report on Tuesday, May 12th. They set a “neutral” rating and a $7.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research note on Friday, July 17th.

Insider Activity

In other news, Director William H. Carson acquired 8,000 shares of the stock in a transaction dated 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 purchase, the director owned 78,405 shares in the company, valued at approximately $453,180.90. The trade was a 11.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muneer A. Satter bought 613,497 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average cost of $5.41 per share, for a total transaction of $3,319,018.77. Following the completion of the purchase, the director directly owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. The trade was a 6.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 10.31% of the company’s stock.

Institutional Investors Weigh In On Annexon

Large investors have recently made changes to their positions in the business. CIBC Bancorp USA Inc. purchased a new position in shares of Annexon during the third quarter valued at approximately $31,000. Engineers Gate Manager LP purchased a new stake in Annexon in the second quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Annexon by 65.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock worth $35,000 after acquiring an additional 2,785 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Annexon in the fourth quarter valued at $50,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Annexon in the fourth quarter valued at $52,000.

Annexon Price Performance

Shares of ANNX opened at $5.37 on Thursday. Annexon has a 1 year low of $2.03 and a 1 year high of $7.18. The stock has a 50 day simple moving average of $5.35 and a two-hundred day simple moving average of $5.56. The firm has a market cap of $879.84 million, a P/E ratio of -4.40 and a beta of 1.18.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. On average, equities analysts anticipate that Annexon will post -0.92 earnings per share for the current year.

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.