Annexon, Inc. (NASDAQ:ANNX) Receives Average Recommendation of “Hold” from Analysts

Annexon, Inc. (NASDAQ:ANNX) has received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $15.1429.

A number of research analysts recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Citigroup initiated coverage on shares of Annexon in a research note on Tuesday, July 21st. They set a “market underperform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their target price on shares of Annexon from $10.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Annexon in a research report on Monday, July 20th.

Annexon Stock Performance

Shares of Annexon stock opened at $4.17 on Friday. The firm has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $5.37. Annexon has a fifty-two week low of $2.52 and a fifty-two week high of $7.18. The company has a market cap of $790.54 million, a P/E ratio of -3.59 and a beta of 1.21.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Equities research analysts forecast that Annexon will post -1.04 EPS for the current year.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently bought and sold shares of ANNX. Integrated Wealth Concepts LLC raised its holdings in Annexon by 32.3% during the second quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock worth $77,000 after purchasing an additional 3,305 shares in the last quarter. ProShare Advisors LLC raised its stake in Annexon by 21.7% during the 4th quarter. ProShare Advisors LLC now owns 24,698 shares of the company’s stock worth $124,000 after acquiring an additional 4,410 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Annexon by 3.6% in the first quarter. The Manufacturers Life Insurance Company now owns 134,786 shares of the company’s stock valued at $747,000 after acquiring an additional 4,684 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in Annexon by 14.6% in the first quarter. ADAR1 Capital Management LLC now owns 55,000 shares of the company’s stock valued at $305,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Abel Hall LLC purchased a new position in shares of Annexon during the first quarter worth about $61,000.

Annexon Company Profile

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company’s approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon’s lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.