Annexon, Inc. (NASDAQ:ANNX) Given Consensus Recommendation of “Hold” by Brokerages

Annexon, Inc. (NASDAQ:ANNX) has been assigned an average rating of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $17.3333.

Several research analysts have weighed in on ANNX shares. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Annexon in a research note on Friday, August 15th. Wells Fargo & Company upped their target price on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday. Zacks Research raised Annexon from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th.

Annexon Price Performance

Shares of ANNX stock remained flat at $4.27 on Friday. The stock had a trading volume of 3,830,149 shares, compared to its average volume of 1,768,223. The company has a market capitalization of $510.83 million, a P/E ratio of -3.31 and a beta of 1.28. Annexon has a twelve month low of $1.28 and a twelve month high of $5.66. The company has a 50-day moving average of $3.09 and a 200 day moving average of $2.58.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). On average, equities research analysts expect that Annexon will post -0.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Muneer A. Satter bought 500,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average cost of $3.94 per share, for a total transaction of $1,970,000.00. Following the completion of the acquisition, the director directly owned 8,906,024 shares in the company, valued at approximately $35,089,734.56. This represents a 5.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 1,830,843 shares of company stock worth $7,091,379 over the last 90 days. Corporate insiders own 11.87% of the company’s stock.

Institutional Investors Weigh In On Annexon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Annexon by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock worth $17,797,000 after purchasing an additional 469,073 shares during the last quarter. Sio Capital Management LLC grew its stake in shares of Annexon by 20.5% in the second quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock worth $9,830,000 after acquiring an additional 697,978 shares during the last quarter. Millennium Management LLC increased its position in Annexon by 12.3% during the third quarter. Millennium Management LLC now owns 2,822,823 shares of the company’s stock worth $8,610,000 after acquiring an additional 308,689 shares during the period. TFG Asset Management GP Ltd increased its position in Annexon by 6.0% during the second quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company’s stock worth $6,744,000 after acquiring an additional 160,000 shares during the period. Finally, Woodline Partners LP raised its stake in Annexon by 150.4% during the 3rd quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock valued at $8,047,000 after purchasing an additional 1,584,566 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.