Annexon, Inc. (NASDAQ:ANNX) Receives $15.80 Average Price Target from Analysts

Annexon, Inc. (NASDAQ:ANNX) has earned a consensus rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $15.80.

ANNX has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a research report on Tuesday, August 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Tuesday, August 13th.

Insider Buying and Selling at Annexon

In other Annexon news, EVP Ted Yednock sold 5,500 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.95, for a total transaction of $32,725.00. Following the sale, the executive vice president now owns 15,500 shares in the company, valued at approximately $92,225. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 9,600 shares of company stock worth $53,504 and have sold 17,388 shares worth $107,072. 12.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ANNX. BVF Inc. IL purchased a new position in Annexon in the fourth quarter valued at about $31,780,000. Bain Capital Life Sciences Investors LLC raised its position in Annexon by 41.4% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after purchasing an additional 2,359,793 shares during the period. Bellevue Group AG purchased a new position in Annexon in the first quarter valued at about $15,647,000. Candriam S.C.A. purchased a new position in Annexon in the second quarter valued at about $10,061,000. Finally, Vanguard Group Inc. raised its position in Annexon by 96.4% in the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 shares during the period.

Annexon Stock Performance

Shares of Annexon stock opened at $7.03 on Thursday. Annexon has a one year low of $1.57 and a one year high of $8.40. The company has a market cap of $649.66 million, a price-to-earnings ratio of -4.78 and a beta of 1.28. The business’s 50 day moving average price is $6.05 and its 200 day moving average price is $5.58.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). On average, analysts predict that Annexon will post -0.97 EPS for the current fiscal year.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.