Annexon (NASDAQ:ANNX) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note released on Friday,Benzinga reports. HC Wainwright currently has a $30.00 price target on the stock. HC Wainwright also issued estimates for Annexon’s FY2027 earnings at $0.49 EPS and FY2028 earnings at $0.90 EPS.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.80.

Annexon Stock Down 3.3 %

Shares of NASDAQ ANNX traded down $0.21 on Friday, reaching $6.12. 1,917,213 shares of the company’s stock traded hands, compared to its average volume of 1,819,268. The business’s 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $5.92. Annexon has a 12 month low of $2.27 and a 12 month high of $8.40. The company has a market cap of $646.58 million, a price-to-earnings ratio of -4.98 and a beta of 1.23.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 5,500 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.95, for a total value of $32,725.00. Following the transaction, the executive vice president now owns 15,500 shares of the company’s stock, valued at approximately $92,225. This represents a 26.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 20,908 shares of company stock worth $135,768. 12.67% of the stock is owned by insiders.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bain Capital Life Sciences Investors LLC grew its position in Annexon by 8.0% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock valued at $62,402,000 after buying an additional 641,549 shares during the period. FMR LLC grew its position in shares of Annexon by 3.2% during the 3rd quarter. FMR LLC now owns 8,561,949 shares of the company’s stock valued at $50,687,000 after acquiring an additional 262,229 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Annexon by 16.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after purchasing an additional 832,617 shares in the last quarter. State Street Corp raised its holdings in Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock worth $22,744,000 after purchasing an additional 2,068,294 shares during the period. Finally, Vanguard Group Inc. lifted its position in Annexon by 96.4% during the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 shares in the last quarter.

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.