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

Annexon, Inc. (NASDAQ:ANNX) has earned an average rating of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $15.80.

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

Annexon Stock Performance

Shares of ANNX stock opened at $5.10 on Tuesday. Annexon has a fifty-two week low of $2.27 and a fifty-two week high of $8.40. The company has a 50 day moving average price of $6.50 and a 200 day moving average price of $5.98. The stock has a market capitalization of $543.61 million, a P/E ratio of -4.86 and a beta of 1.10.

Insider Buying and Selling

In other news, EVP Ted Yednock sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were 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. The trade was a 5.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sandia Investment Management LP purchased a new position in shares of Annexon during the second quarter worth about $49,000. Victory Capital Management Inc. purchased a new position in Annexon during the 2nd quarter worth approximately $51,000. Principal Financial Group Inc. acquired a new position in Annexon during the second quarter worth approximately $56,000. Comerica Bank purchased a new stake in Annexon in the first quarter valued at approximately $72,000. Finally, Quarry LP acquired a new stake in shares of Annexon in the third quarter valued at approximately $118,000.

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.