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

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

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

Insider Activity at Annexon

In other Annexon news, Director William H. Carson purchased 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought 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 owned 78,405 shares of the company’s stock, valued at $453,180.90. The trade was a 11.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Muneer A. Satter purchased 613,497 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the completion of the acquisition, the director directly owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. This trade represents a 6.31% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 629,497 shares of company stock worth $3,414,859. Insiders own 10.31% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of hedge funds have recently made changes to their positions in ANNX. CIBC Bancorp USA Inc. purchased a new stake in Annexon during the third quarter worth about $31,000. Engineers Gate Manager LP purchased a new position in Annexon in the second quarter valued at about $32,000. Mirae Asset Global Investments Co. Ltd. boosted 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 valued at $35,000 after acquiring an additional 2,785 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Annexon during the 4th quarter valued at approximately $50,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Annexon during the 4th quarter valued at approximately $52,000.

Annexon Price Performance

NASDAQ ANNX remained flat at $5.46 during trading hours on Friday. 2,561,839 shares of the company traded hands, compared to its average volume of 4,065,708. The stock has a market capitalization of $894.57 million, a P/E ratio of -4.48 and a beta of 1.16. Annexon has a twelve month low of $1.85 and a twelve month high of $7.18. The company’s 50 day moving average price is $5.35 and its 200-day moving average price is $5.51.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07. On average, research analysts anticipate that Annexon will post -0.92 EPS for the current fiscal 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.