Analysts Set Annexon, Inc. (NASDAQ:ANNX) Target Price at $17.00

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $17.00.

Several equities research analysts have issued reports on ANNX shares. Wells Fargo & Company raised their price target on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Finally, Chardan Capital initiated coverage on shares of Annexon in a research note on Tuesday, December 23rd. They issued a “buy” rating and a $16.00 target price for the company.

Insiders Place Their Bets

In other news, EVP Ted Yednock sold 7,857 shares of Annexon stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total value of $40,149.27. Following the completion of the sale, the executive vice president owned 97,227 shares of the company’s stock, valued at $496,829.97. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jamie Dananberg sold 5,290 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.10, for a total value of $26,979.00. Following the transaction, the insider owned 73,152 shares in the company, valued at $373,075.20. This trade represents a 6.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 32,513 shares of company stock valued at $165,973. 11.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Annexon

Hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. increased its position in Annexon by 266.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock worth $27,610,000 after purchasing an additional 4,000,000 shares during the last quarter. Mak Capital One LLC acquired a new position in shares of Annexon in the 4th quarter valued at $14,852,000. State Street Corp grew its stake in shares of Annexon by 126.9% during the 4th quarter. State Street Corp now owns 4,652,185 shares of the company’s stock valued at $23,354,000 after buying an additional 2,601,877 shares during the period. Nuveen LLC increased its holdings in shares of Annexon by 327.1% during the 4th quarter. Nuveen LLC now owns 2,915,324 shares of the company’s stock worth $14,635,000 after buying an additional 2,232,766 shares during the last quarter. Finally, BVF Inc. IL raised its position in shares of Annexon by 30.4% in the 4th quarter. BVF Inc. IL now owns 9,128,080 shares of the company’s stock worth $45,823,000 after buying an additional 2,128,080 shares during the period.

Annexon Stock Down 5.0%

ANNX opened at $5.16 on Monday. The firm has a market cap of $617.31 million, a P/E ratio of -3.66 and a beta of 1.15. The business’s fifty day simple moving average is $5.64 and its 200 day simple moving average is $4.17. Annexon has a 52 week low of $1.28 and a 52 week high of $7.18.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.