Annexon, Inc. (NASDAQ:ANNX) Stock Has Average Price Target of $15.29

Shares of Annexon, Inc. (NASDAQ:ANNX) have been given an average rating of “Hold” by the ten brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.29.

ANNX has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Thursday. Needham & Company LLC lifted their price objective on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Annexon in a research note on Monday, July 20th. Finally, Citigroup started coverage on Annexon in a research report on Tuesday, July 21st. They set a “market underperform” rating on the stock.

Annexon Price Performance

NASDAQ:ANNX opened at $4.01 on Tuesday. The firm has a 50 day simple moving average of $4.45 and a 200-day simple moving average of $5.14. Annexon has a 1-year low of $2.54 and a 1-year high of $7.18.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). As a group, research analysts expect that Annexon will post -1.05 EPS for the current year.

Insider Activity at Annexon

In related news, CEO Douglas Love acquired 26,065 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was bought at an average price of $3.83 per share, with a total value of $99,828.95. Following the purchase, the chief executive officer directly owned 390,476 shares in the company, valued at $1,495,523.08. The trade was a 7.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Annexon

Hedge funds have recently modified their holdings of the stock. Abel Hall LLC acquired a new position in Annexon in the first quarter valued at $61,000. Integrated Wealth Concepts LLC grew its position in Annexon by 32.3% during the second quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock valued at $77,000 after acquiring an additional 3,305 shares during the period. Forefront Analytics LLC purchased a new stake in Annexon during the second quarter valued at about $81,000. Pictet Asset Management Holding SA acquired a new stake in Annexon during the first quarter worth about $93,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Annexon during the fourth quarter worth about $96,000.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company developing therapies for diseases driven by activation of the classical complement pathway, an immune-system mechanism involved in inflammation and tissue damage. The company’s approach is designed to selectively inhibit complement activity while preserving other parts of the immune response.

Annexon’s pipeline has included ANX005, an investigational monoclonal antibody that targets C1q, an initiating protein in the classical complement pathway.