William Carson Acquires 8,000 Shares of Annexon (NASDAQ:ANNX) Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson purchased 8,000 shares of Annexon stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $5.78 per share, for a total transaction of $46,240.00. Following the completion of the purchase, the director owned 78,405 shares of the company’s stock, valued at $453,180.90. This trade represents a 11.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Annexon Trading Down 1.5%

Annexon stock opened at $5.37 on Friday. The business’s fifty day simple moving average is $5.70 and its two-hundred day simple moving average is $5.17. Annexon, Inc. has a 12 month low of $1.70 and a 12 month high of $7.18. The company has a market capitalization of $879.82 million, a price-to-earnings ratio of -4.40 and a beta of 1.22.

Annexon (NASDAQ:ANNX) last released its earnings results on Thursday, May 7th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07. On average, equities research analysts predict that Annexon, Inc. will post -1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ANNX shares. Chardan Capital reissued a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Friday, March 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Monday, April 20th. The Goldman Sachs Group initiated coverage on Annexon in a report on Tuesday. They set a “neutral” rating and a $7.00 price target on the stock. Finally, Wall Street Zen raised Annexon from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Institutional Investors Weigh In On Annexon

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. CIBC Bancorp USA Inc. purchased a new stake in Annexon in the third quarter worth approximately $31,000. Engineers Gate Manager LP purchased a new stake in Annexon in the second quarter worth approximately $32,000. SG Americas Securities LLC purchased a new stake in Annexon in the third quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Annexon by 65.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company’s stock valued at $35,000 after acquiring an additional 2,785 shares during the period. Finally, Savant Capital LLC purchased a new position in Annexon in the third quarter worth about $40,000.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.