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

Annexon, Inc. (NASDAQ:ANNX) has earned an average rating of “Hold” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $15.29.

A number of research analysts recently issued reports on ANNX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Annexon from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, September 30th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Annexon in a report on Monday, July 20th. Citizens Jmp upgraded shares of Annexon from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Monday, July 13th.

Annexon Stock Performance

Shares of ANNX stock opened at $3.41 on Tuesday. Annexon has a 1 year low of $2.54 and a 1 year high of $7.18. The stock has a market cap of $646.47 million, a PE ratio of -2.94 and a beta of 1.32. The business’s fifty day moving average is $4.48 and its 200-day moving average is $5.15.

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). Equities research analysts predict that Annexon will post -1.05 earnings per share for the current year.

Insider Activity at Annexon

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Moore Capital Management LP acquired a new stake in shares of Annexon during the 2nd quarter valued at $2,429,000. Bank of America Corp DE boosted its stake in shares of Annexon by 165.3% during the 1st quarter. Bank of America Corp DE now owns 4,259,995 shares of the company’s stock worth $23,600,000 after acquiring an additional 2,654,414 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Annexon during the 1st quarter worth $7,312,000. Swiss National Bank bought a new stake in shares of Annexon during the 1st quarter worth $1,307,000. Finally, Siren L.L.C. acquired a new position in shares of Annexon in the 1st quarter worth $21,931,000.

Annexon Company Profile

Annexon, Inc is a clinical-stage biopharmaceutical company developing therapies for diseases driven by activation of the classical complement pathway, an immune-system mechanism involved in inflammation and tissue damage. The company’s approach is designed to selectively inhibit complement activity while preserving other parts of the immune response.

Annexon’s pipeline has included ANX005, an investigational monoclonal antibody that targets C1q, an initiating protein in the classical complement pathway.