Annexon, Inc. (NASDAQ:ANNX) Given Average Rating of “Hold” by Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.3333.

A number of brokerages have issued reports on ANNX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. The Goldman Sachs Group initiated coverage on shares of Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Annexon in a research report on Monday, July 20th. Finally, Wall Street Zen cut shares of Annexon from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th.

Annexon Price Performance

Shares of NASDAQ ANNX opened at $4.97 on Monday. The business has a fifty day moving average price of $5.41 and a two-hundred day moving average price of $5.43. The stock has a market capitalization of $942.21 million, a PE ratio of -4.28 and a beta of 1.18. Annexon has a fifty-two week low of $2.03 and a fifty-two week high of $7.18.

Annexon (NASDAQ:ANNX) last released its earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). On average, equities analysts expect that Annexon will post -1.01 EPS for the current year.

Institutional Investors Weigh In On Annexon

A number of large investors have recently modified their holdings of the business. Redmile Group LLC raised its holdings in shares of Annexon by 44.8% during the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock worth $80,606,000 after buying an additional 4,499,124 shares in the last quarter. BlackRock Inc. acquired a new stake in Annexon in the second quarter valued at about $77,312,000. BVF Inc. IL boosted its stake in Annexon by 30.4% in the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock valued at $45,823,000 after buying an additional 2,128,080 shares in the last quarter. Vanguard Group Inc. grew its position in Annexon by 8.7% in the third quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock valued at $17,797,000 after acquiring an additional 469,073 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Annexon by 266.7% in the fourth 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 during the last quarter.

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.