Annexon (NASDAQ:ANNX) Trading Up 4.7% – Time to Buy?

Annexon, Inc. (NASDAQ:ANNX)’s stock price was up 4.7% on Tuesday . The stock traded as high as $6.47 and last traded at $6.43. Approximately 197,957 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,889,860 shares. The stock had previously closed at $6.14.

Wall Street Analyst Weigh In

ANNX has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Annexon in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Performance

The company has a market capitalization of $602.53 million, a price-to-earnings ratio of -4.18 and a beta of 1.28. The business has a 50 day moving average price of $6.10 and a 200-day moving average price of $5.63.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). As a group, equities analysts predict that Annexon, Inc. will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 4,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.10, for a total transaction of $31,950.00. Following the sale, the executive vice president now owns 71,365 shares in the company, valued at $506,691.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 17,388 shares of company stock worth $107,072. Corporate insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

Several large investors have recently made changes to their positions in ANNX. Ameritas Investment Partners Inc. grew its position in shares of Annexon by 78.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after acquiring an additional 2,949 shares during the period. Sandia Investment Management LP bought a new stake in Annexon in the second quarter worth about $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon during the second quarter worth approximately $51,000. Principal Financial Group Inc. purchased a new position in Annexon during the second quarter valued at approximately $56,000. Finally, Comerica Bank purchased a new position in Annexon during the first quarter valued at approximately $72,000.

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.