Annexon (NASDAQ:ANNX) Now Covered by Analysts at Chardan Capital

Chardan Capital initiated coverage on shares of Annexon (NASDAQ:ANNX) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $16.00 price objective on the stock.

A number of other analysts have also commented on ANNX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of Annexon from $14.00 to $27.00 and gave the company an “overweight” rating in a 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 stock. According to MarketBeat, Annexon has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Annexon Stock Performance

Shares of ANNX opened at $5.11 on Tuesday. The firm has a market capitalization of $611.31 million, a price-to-earnings ratio of -3.62 and a beta of 1.20. Annexon has a 52 week low of $1.28 and a 52 week high of $5.66. The business’s fifty day moving average price is $3.85 and its two-hundred day moving average price is $3.01.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, research analysts forecast that Annexon will post -0.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Jung Choi purchased 33,000 shares of the stock in a transaction on Monday, December 1st. The shares were purchased at an average price of $4.19 per share, with a total value of $138,270.00. Following the transaction, the director directly owned 33,000 shares of the company’s stock, valued at $138,270. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Muneer A. Satter acquired 500,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were bought at an average price of $3.94 per share, for a total transaction of $1,970,000.00. Following the purchase, the director owned 8,906,024 shares in the company, valued at approximately $35,089,734.56. This represents a 5.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 1,867,958 shares of company stock valued at $7,248,043. Corporate insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. lifted its stake in Annexon by 186.7% in the 1st quarter. Invesco Ltd. now owns 91,409 shares of the company’s stock valued at $176,000 after purchasing an additional 59,528 shares during the last quarter. Nuveen LLC bought a new position in shares of Annexon during the first quarter worth approximately $670,000. American Century Companies Inc. lifted its holdings in Annexon by 11.0% during the 1st quarter. American Century Companies Inc. now owns 198,194 shares of the company’s stock worth $383,000 after purchasing an additional 19,683 shares during the last quarter. Wellington Management Group LLP boosted its stake in Annexon by 32.9% in the 1st quarter. Wellington Management Group LLP now owns 356,480 shares of the company’s stock valued at $688,000 after purchasing an additional 88,314 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Annexon by 19.9% in the 1st quarter. Hsbc Holdings PLC now owns 36,935 shares of the company’s stock valued at $73,000 after buying an additional 6,136 shares in the last quarter.

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.