Annexon (NASDAQ:ANNX) Price Target Raised to $27.00

Annexon (NASDAQ:ANNX) had its price objective upped by Wells Fargo & Company from $14.00 to $27.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts also recently commented on ANNX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a report on Wednesday, October 8th. Zacks Research raised Annexon from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Annexon in a report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.33.

Annexon Stock Performance

NASDAQ ANNX opened at $4.27 on Wednesday. The business’s 50 day moving average price is $3.09 and its 200-day moving average price is $2.58. Annexon has a fifty-two week low of $1.28 and a fifty-two week high of $5.66. The company has a market cap of $510.83 million, a P/E ratio of -3.31 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). As a group, equities analysts predict that Annexon will post -0.96 EPS for the current year.

Insider Buying and Selling at Annexon

In related news, Director Muneer A. Satter purchased 422,613 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was purchased at an average price of $4.28 per share, with a total value of $1,808,783.64. Following the completion of the purchase, the director owned 9,728,637 shares of the company’s stock, valued at approximately $41,638,566.36. The trade was a 4.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 1,830,843 shares of company stock worth $7,091,379 over the last ninety days. Insiders own 11.87% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Bancorp USA Inc. purchased a new stake in shares of Annexon in the 3rd quarter worth $31,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Annexon during the third quarter valued at $69,000. Woodline Partners LP raised its holdings in shares of Annexon by 150.4% in the third quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock valued at $8,047,000 after acquiring an additional 1,584,566 shares in the last quarter. Quarry LP lifted its stake in Annexon by 155.0% in the third quarter. Quarry LP now owns 110,000 shares of the company’s stock worth $336,000 after acquiring an additional 66,867 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Annexon by 34.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 572,644 shares of the company’s stock worth $1,747,000 after acquiring an additional 147,924 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.