Analysts Set Annexon, Inc. (NASDAQ:ANNX) Target Price at $15.80

Shares of Annexon, Inc. (NASDAQ:ANNX) have earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $15.80.

ANNX has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Annexon in a research report on Tuesday, August 13th.

Annexon Trading Down 3.4 %

NASDAQ:ANNX opened at $6.33 on Friday. The company has a 50 day simple moving average of $6.89 and a two-hundred day simple moving average of $5.90. The company has a market cap of $668.79 million, a PE ratio of -5.15 and a beta of 1.23. Annexon has a 12 month low of $2.27 and a 12 month high of $8.40.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.23). Research analysts forecast that Annexon will post -0.97 earnings per share for the current year.

Insider Activity

In related news, EVP Ted Yednock sold 4,500 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.10, for a total transaction of $31,950.00. Following the completion of the sale, the executive vice president now owns 71,365 shares in the company, valued at approximately $506,691.50. This trade represents a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 20,908 shares of company stock worth $135,768 in the last three months. Company insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its position in shares of Annexon by 78.2% during the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after buying an additional 2,949 shares during the last quarter. Comerica Bank bought a new stake in Annexon in the 1st quarter valued at $72,000. Sandia Investment Management LP bought a new stake in Annexon in the 2nd quarter valued at $49,000. Victory Capital Management Inc. purchased a new stake in Annexon in the 2nd quarter worth $51,000. Finally, Principal Financial Group Inc. bought a new position in shares of Annexon during the 2nd quarter valued at about $56,000.

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.