Annexon (NASDAQ:ANNX) Director William Carson Buys 8,000 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX) Director William Carson bought 8,000 shares of the stock in a transaction on Friday, April 10th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $49,600.00. Following the completion of the purchase, the director owned 70,405 shares of the company’s stock, valued at approximately $436,511. This trade represents a 12.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Annexon Price Performance

Shares of ANNX opened at $5.80 on Wednesday. Annexon, Inc. has a 1 year low of $1.40 and a 1 year high of $7.18. The firm has a market cap of $930.73 million, a PE ratio of -4.26 and a beta of 1.14. The stock’s fifty day moving average price is $5.45 and its two-hundred day moving average price is $4.77.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04. Sell-side analysts anticipate that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANNX. Adage Capital Partners GP L.L.C. grew 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 buying an additional 4,000,000 shares in the last quarter. Mak Capital One LLC purchased a new position in Annexon during the fourth quarter worth about $14,852,000. State Street Corp boosted its holdings in shares of Annexon by 126.9% in the 4th quarter. State Street Corp now owns 4,652,185 shares of the company’s stock worth $23,354,000 after purchasing an additional 2,601,877 shares in the last quarter. Nuveen LLC boosted its holdings in shares of Annexon by 327.1% in the 4th quarter. Nuveen LLC now owns 2,915,324 shares of the company’s stock worth $14,635,000 after purchasing an additional 2,232,766 shares in the last quarter. Finally, BVF Inc. IL boosted its holdings 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 purchasing an additional 2,128,080 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently issued reports on ANNX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Chardan Capital reiterated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research note on Friday, March 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

About Annexon

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.