Annexon, Inc. (NASDAQ:ANNX) Receives Average Recommendation of “Buy” from Brokerages

Annexon, Inc. (NASDAQ:ANNX) has received an average rating of “Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $15.80.

Several research analysts have recently commented on ANNX shares. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research report on Friday, November 15th.

Insiders Place Their Bets

In other news, EVP Ted Yednock sold 5,408 shares of Annexon stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the sale, the executive vice president now directly owns 71,365 shares in the company, valued at approximately $528,814.65. The trade was a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Annexon by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company’s stock worth $10,101,000 after acquiring an additional 235,810 shares during the period. Franklin Resources Inc. bought a new stake in Annexon during the third quarter worth $292,000. Barclays PLC lifted its stake in Annexon by 212.0% during the third quarter. Barclays PLC now owns 177,765 shares of the company’s stock worth $1,052,000 after purchasing an additional 120,789 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Annexon by 18.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock valued at $12,693,000 after purchasing an additional 331,269 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Annexon by 36.2% in the 3rd quarter. Wellington Management Group LLP now owns 263,360 shares of the company’s stock valued at $1,559,000 after purchasing an additional 69,941 shares during the last quarter.

Annexon Price Performance

NASDAQ:ANNX opened at $5.13 on Friday. The firm has a market capitalization of $546.83 million, a price-to-earnings ratio of -4.89 and a beta of 1.10. Annexon has a twelve month low of $3.86 and a twelve month high of $8.40. The stock’s 50 day moving average price is $5.80 and its two-hundred day moving average price is $5.94.

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.