Annexon, Inc. (NASDAQ:ANNX) Receives $15.80 Consensus Target Price from Brokerages

Shares of Annexon, Inc. (NASDAQ:ANNX) have been given a consensus rating of “Buy” by the six analysts that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.80.

Several equities analysts have recently issued reports on ANNX shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Annexon in a report on Tuesday, December 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, November 15th.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,408 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares in the company, valued at $528,814.65. The trade was a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.67% of the stock is currently owned by insiders.

Institutional Trading of Annexon

Large investors have recently modified their holdings of the business. State Street Corp raised its stake in Annexon by 116.6% in the third quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after purchasing an additional 2,068,294 shares in the last quarter. Candriam S.C.A. purchased a new stake in shares of Annexon during the 2nd quarter valued at $10,061,000. Sio Capital Management LLC bought a new stake in shares of Annexon during the 3rd quarter worth $8,484,000. Marshall Wace LLP grew its position in Annexon by 436.6% in the second quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock worth $8,299,000 after acquiring an additional 1,378,053 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Annexon by 16.1% in the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after acquiring an additional 832,617 shares during the last quarter.

Annexon Stock Performance

Annexon stock opened at $5.41 on Friday. The stock has a market cap of $576.67 million, a PE ratio of -5.15 and a beta of 1.10. Annexon has a fifty-two week low of $3.86 and a fifty-two week high of $8.40. The firm’s 50-day simple moving average is $5.72 and its 200 day simple moving average is $5.93.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.