Annexon, Inc. (NASDAQ:ANNX) Given Average Rating of “Buy” by Analysts

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

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

Annexon Stock Performance

ANNX stock opened at $5.41 on Friday. Annexon has a one year low of $3.86 and a one year high of $8.40. The company has a market capitalization of $576.67 million, a PE ratio of -5.15 and a beta of 1.10. The company’s 50 day moving average price is $5.72 and its two-hundred day moving average price is $5.93.

Insider Transactions at Annexon

In other news, EVP Ted Yednock sold 5,408 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the transaction, the executive vice president now directly owns 71,365 shares of the company’s stock, 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 hyperlink. 12.67% of the stock is currently owned by company insiders.

Institutional Trading of Annexon

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

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.