Annexon, Inc. (NASDAQ:ANNX) Receives $14.43 Consensus PT from Brokerages

Annexon, Inc. (NASDAQ:ANNX) has been assigned an average recommendation of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.43.

A number of research firms recently issued reports on ANNX. Bank of America raised their price objective on shares of Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. lifted their target price on shares of Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Thursday, April 11th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Wednesday, March 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Wednesday.

Annexon Stock Performance

NASDAQ ANNX opened at $4.45 on Monday. Annexon has a 52-week low of $1.57 and a 52-week high of $8.40. The company has a 50-day simple moving average of $5.69 and a 200 day simple moving average of $4.13. The company has a market capitalization of $400.63 million, a PE ratio of -2.50 and a beta of 1.14.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. As a group, analysts forecast that Annexon will post -1.36 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas Love sold 5,782 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the transaction, the chief executive officer now directly owns 196,121 shares in the company, valued at $1,086,510.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 8,940 shares of company stock worth $49,514. 19.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annexon

Several hedge funds have recently bought and sold shares of the stock. Bain Capital Life Sciences Investors LLC lifted its position in Annexon by 41.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after purchasing an additional 2,359,793 shares during the last quarter. BVF Inc. IL bought a new stake in Annexon during the fourth quarter valued at approximately $31,780,000. Kennedy Capital Management LLC bought a new stake in Annexon during the third quarter valued at approximately $2,306,000. Sectoral Asset Management Inc. lifted its position in Annexon by 33.2% during the third quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock valued at $2,121,000 after purchasing an additional 224,156 shares during the last quarter. Finally, Silverarc Capital Management LLC lifted its holdings in shares of Annexon by 2.5% in the 3rd quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock worth $943,000 after acquiring an additional 9,805 shares during the last quarter.

Annexon Company Profile

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.