Annexon (NASDAQ:ANNX) Stock Price Up 5.7% – Should You Buy?

Annexon, Inc. (NASDAQ:ANNX)’s stock price rose 5.7% on Tuesday . The company traded as high as $5.41 and last traded at $5.39. Approximately 1,002,607 shares were traded during trading, a decline of 45% from the average daily volume of 1,814,112 shares. The stock had previously closed at $5.10.

Analysts Set New Price Targets

ANNX has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Annexon in a research report on Friday, November 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Annexon currently has an average rating of “Buy” and an average price target of $15.80.

Annexon Price Performance

The stock has a fifty day moving average price of $6.75 and a 200-day moving average price of $5.95. The company has a market cap of $563.86 million, a PE ratio of -4.86 and a beta of 1.23.

Insider Activity

In other news, EVP Ted Yednock sold 5,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.64, for a total transaction of $31,020.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $56,400. This trade represents a 35.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 20,908 shares of company stock worth $135,768 in the last 90 days. Company insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Annexon by 3.2% during the 3rd quarter. FMR LLC now owns 8,561,949 shares of the company’s stock worth $50,687,000 after acquiring an additional 262,229 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Annexon by 16.1% during the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after purchasing an additional 832,617 shares during the period. State Street Corp grew its holdings in Annexon by 116.6% during the third quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after purchasing an additional 2,068,294 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Annexon by 96.4% in the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Annexon by 18.3% in the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock worth $12,693,000 after buying an additional 331,269 shares during 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.