Annexon (NASDAQ:ANNX) Stock Breaks Below 50-Day Moving Average – Here’s Why

Shares of Annexon, Inc. (NASDAQ:ANNX) passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $4.04 and traded as low as $3.87. Annexon shares last traded at $3.97, with a volume of 4,463,079 shares.

Annexon News Roundup

These are some of the ANNX news items that stood out recently:

• Positive Sentiment: HC Wainwright raised its FY2030 EPS forecast to $1.61 from $1.36 and its FY2029 estimate to $0.65 from $0.58, reflecting improved longer-range earnings expectations.
• Neutral Sentiment: Despite the estimate revisions, HC Wainwright maintained its Buy rating and $14 target. A separate report said analysts’ consensus price target is $15.29. Article: Annexon consensus price target
• Negative Sentiment: HC Wainwright cut EPS forecasts for Q4 2026 and each quarter of 2027, as well as FY2027 (to a loss of $0.99 per share from $0.69) and FY2028 (to a loss of $0.26 from $0.16). These revisions point to larger expected losses in the nearer term and could weigh on ANNX shares.

Analysts Set New Price Targets

A number of research analysts have commented on ANNX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Thursday, October 15th. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Annexon in a research note on Monday, July 20th. Citizens Jmp raised shares of Annexon from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. boosted their price objective on Annexon from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. Finally, Citigroup assumed coverage on Annexon in a research note on Tuesday, July 21st. They set a “market underperform” rating on the stock. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.29.

Annexon Price Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.53 and a current ratio of 5.79. The business’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $5.12. The stock has a market capitalization of $757.32 million, a price-to-earnings ratio of -3.82 and a beta of 1.43.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.03. Research analysts anticipate that Annexon, Inc. will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In other Annexon news, CEO Douglas Love bought 26,065 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the transaction, the chief executive officer directly owned 390,476 shares in the company, valued at $1,495,523.08. The trade was a 7.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Annexon during the second quarter valued at about $77,312,000. Redmile Group LLC grew its position in Annexon by 44.8% in the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock valued at $80,606,000 after buying an additional 4,499,124 shares in the last quarter. Siren L.L.C. bought a new position in Annexon in the 1st quarter valued at about $21,931,000. Palo Alto Investors LP bought a new position in Annexon in the 2nd quarter valued at about $16,833,594. Finally, Bank of America Corp DE increased its stake in Annexon by 165.3% during the 1st quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock valued at $23,600,000 after buying an additional 2,654,414 shares during the period.

Annexon Company Profile

Annexon is a clinical-stage biopharmaceutical company developing antibody-based therapies for diseases driven by the complement system, a part of the immune system involved in inflammation and tissue damage. The company focuses on the classical complement pathway, which it aims to inhibit selectively. Its investigational programs are designed for complement-related autoimmune, inflammatory and neurodegenerative conditions. These include treatments being studied for disorders affecting the nervous system and the eye.