Annexon, Inc. (NASDAQ:ANNX) Stock Has Average Target Price of $15.29

Annexon, Inc. (NASDAQ:ANNX) has received a consensus recommendation of “Hold” from the ten analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.29.

ANNX has been the subject of several research reports. Citigroup initiated coverage on Annexon in a research note on Tuesday, July 21st. They issued a “market underperform” rating for the company. JPMorgan Chase & Co. increased their target price on Annexon from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Annexon in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Thursday, October 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Monday, July 13th.

Annexon Stock Performance

Shares of ANNX stock opened at $4.20 on Friday. The stock has a market capitalization of $796.24 million, a P/E ratio of -3.62 and a beta of 1.43. Annexon has a fifty-two week low of $2.54 and a fifty-two week high of $7.18. The company has a 50 day moving average price of $4.11 and a 200 day moving average price of $5.17.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). On average, research analysts forecast that Annexon will post -1.05 EPS for the current fiscal year.

Insider Activity at Annexon

In related news, CEO Douglas Love purchased 26,065 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average cost of $3.83 per share, with a total value of $99,828.95. Following the acquisition, the chief executive officer owned 390,476 shares of the company’s stock, valued at $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Annexon

Several large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in Annexon by 12.6% during the third quarter. Fifth Third Bancorp now owns 43,500 shares of the company’s stock valued at $184,000 after buying an additional 4,860 shares during the period. Candriam S.C.A. increased its stake in shares of Annexon by 40.5% during the third quarter. Candriam S.C.A. now owns 1,678,986 shares of the company’s stock valued at $7,128,000 after acquiring an additional 483,844 shares during the period. AlphaCentric Advisors LLC grew its stake in Annexon by 203.5% in the third quarter. AlphaCentric Advisors LLC now owns 75,495 shares of the company’s stock valued at $319,000 after purchasing an additional 50,623 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Annexon in the 3rd quarter valued at $41,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Annexon by 86.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 115,591 shares of the company’s stock worth $477,000 after acquiring an additional 53,515 shares during the last quarter.

About Annexon

Annexon, Inc (NASDAQ: ANNX) is a clinical-stage biotechnology company developing therapies for diseases associated with abnormal activation of the classical complement pathway. The company’s approach is designed to selectively inhibit complement activity while preserving the immune system’s ability to perform essential functions.

Annexon’s pipeline has included ANX005, a monoclonal antibody targeting C1q, the initiating protein of the classical complement pathway. The company has evaluated ANX005 in immune-mediated and neuroinflammatory disorders, including Guillain-Barré syndrome.