Annexon (NASDAQ:ANNX) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

Several other analysts also recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Annexon in a report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Price Performance

Shares of ANNX opened at $4.88 on Tuesday. The company’s fifty day moving average price is $6.33 and its 200-day moving average price is $5.98. Annexon has a 1-year low of $2.68 and a 1-year high of $8.40. The firm has a market capitalization of $520.18 million, a PE ratio of -4.67 and a beta of 1.10.

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 transaction of $40,073.28. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at $528,814.65. The trade was a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.67% of the stock is owned by insiders.

Institutional Trading of Annexon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANNX. State Street Corp raised its position in shares of Annexon by 116.6% in the third quarter. State Street Corp now owns 3,841,879 shares of the company’s stock worth $22,744,000 after acquiring an additional 2,068,294 shares during the period. Candriam S.C.A. purchased a new position in shares of Annexon in the 2nd quarter valued at about $10,061,000. Sio Capital Management LLC purchased a new position in shares of Annexon in the 3rd quarter valued at about $8,484,000. Marshall Wace LLP raised its holdings in Annexon by 436.6% in the 2nd quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock worth $8,299,000 after purchasing an additional 1,378,053 shares during the period. Finally, 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 in 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.