Sphera Funds Management LTD. Purchases Shares of 1,243,039 Annexon, Inc. (NASDAQ:ANNX)

Sphera Funds Management LTD. purchased a new stake in Annexon, Inc. (NASDAQ:ANNX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,243,039 shares of the company’s stock, valued at approximately $6,377,000. Annexon makes up 1.2% of Sphera Funds Management LTD.’s investment portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANNX. BNP Paribas Financial Markets bought a new stake in Annexon in the 4th quarter valued at $59,000. CANADA LIFE ASSURANCE Co bought a new stake in Annexon in the 4th quarter valued at $77,000. E Fund Management Co. Ltd. increased its holdings in Annexon by 36.0% in the 4th quarter. E Fund Management Co. Ltd. now owns 15,447 shares of the company’s stock valued at $79,000 after buying an additional 4,086 shares during the period. Forefront Analytics LLC increased its holdings in Annexon by 56.8% in the 4th quarter. Forefront Analytics LLC now owns 16,433 shares of the company’s stock valued at $84,000 after buying an additional 5,950 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Annexon in the 4th quarter valued at $98,000.

Annexon Stock Performance

Shares of ANNX opened at $1.81 on Friday. The company has a market cap of $198.58 million, a price-to-earnings ratio of -1.72 and a beta of 1.24. The stock has a fifty day moving average price of $1.92 and a two-hundred day moving average price of $3.72. Annexon, Inc. has a 52-week low of $1.29 and a 52-week high of $7.85.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.07). As a group, research analysts predict that Annexon, Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ANNX has been the topic of several analyst reports. Needham & Company LLC lowered their price target on shares of Annexon from $16.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday. HC Wainwright cut their price target on shares of Annexon from $20.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday.

Annexon 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.