Annexon, Inc. (NASDAQ:ANNX) Receives $15.80 Average PT from Brokerages

Annexon, Inc. (NASDAQ:ANNX) has been given an average recommendation of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $15.80.

Several brokerages have issued reports on ANNX. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Tuesday, August 13th.

Annexon Stock Performance

NASDAQ:ANNX opened at $6.65 on Thursday. Annexon has a 1 year low of $1.57 and a 1 year high of $8.40. The stock has a 50-day simple moving average of $6.06 and a 200-day simple moving average of $5.59. The stock has a market cap of $614.55 million, a P/E ratio of -4.52 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, meeting the consensus estimate of ($0.23). On average, equities research analysts predict that Annexon will post -0.97 EPS for the current year.

Insider Transactions at Annexon

In other Annexon news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.64, for a total transaction of $31,020.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $56,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have purchased 9,600 shares of company stock worth $53,504 and have sold 17,388 shares worth $107,072. Insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently made changes to their positions in ANNX. Maven Securities LTD acquired a new stake in Annexon in the second quarter valued at approximately $170,000. Susquehanna Fundamental Investments LLC grew its stake in Annexon by 385.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 163,025 shares of the company’s stock worth $799,000 after buying an additional 129,455 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Annexon by 67.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 157,136 shares of the company’s stock worth $770,000 after acquiring an additional 63,330 shares during the period. AQR Capital Management LLC raised its holdings in shares of Annexon by 2,356.2% during the second quarter. AQR Capital Management LLC now owns 279,463 shares of the company’s stock valued at $1,369,000 after buying an additional 268,085 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of Annexon during the second quarter valued at about $1,150,000.

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.