Annexon (NASDAQ:ANNX) Hits New 1-Year High – What’s Next?

Annexon, Inc. (NASDAQ:ANNX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $5.90 and last traded at $5.8950, with a volume of 580974 shares changing hands. The stock had previously closed at $5.56.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ANNX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th. Chardan Capital assumed coverage on Annexon in a research report on Tuesday, December 23rd. They set a “buy” rating and a $16.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on shares of Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Annexon Price Performance

The firm has a market capitalization of $738.72 million, a PE ratio of -4.38 and a beta of 1.19. The company has a fifty day moving average of $4.41 and a 200-day moving average of $3.27.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Equities analysts anticipate that Annexon, Inc. will post -0.96 EPS for the current year.

Insider Transactions at Annexon

In related news, Director Jung Choi purchased 33,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average price of $4.19 per share, with a total value of $138,270.00. Following the purchase, the director directly owned 33,000 shares in the company, valued at $138,270. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Muneer A. Satter bought 422,613 shares of the stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of $4.28 per share, with a total value of $1,808,783.64. Following the completion of the purchase, the director owned 9,728,637 shares of the company’s stock, valued at $41,638,566.36. This represents a 4.54% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 1,867,958 shares of company stock worth $7,256,150. 12.67% of the stock is currently owned by insiders.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP increased its holdings in Annexon by 150.4% in the third quarter. Woodline Partners LP now owns 2,638,275 shares of the company’s stock valued at $8,047,000 after purchasing an additional 1,584,566 shares during the last quarter. Sio Capital Management LLC grew its position in shares of Annexon by 20.5% in the 2nd quarter. Sio Capital Management LLC now owns 4,095,764 shares of the company’s stock valued at $9,830,000 after acquiring an additional 697,978 shares during the period. Vanguard Group Inc. lifted its position in shares of Annexon by 8.7% in the third quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock valued at $17,797,000 after buying an additional 469,073 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Annexon by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 1,452,795 shares of the company’s stock worth $3,487,000 after acquiring an additional 414,071 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB raised its stake in Annexon by 78.9% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 823,000 shares of the company’s stock valued at $2,510,000 after acquiring an additional 363,000 shares during the period.

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.