Annexon, Inc. (NASDAQ:ANNX) Receives $15.80 Consensus PT from Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX - Get Free Report) have been assigned an average recommendation of "Buy" from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $15.80.

Several brokerages have recently weighed in on ANNX. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Annexon in a research note on Friday, November 15th. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a research report on Friday, November 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Annexon in a research note on Friday, November 15th.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the transaction, the executive vice president now owns 71,365 shares of the company's stock, valued at approximately $528,814.65. This trade represents a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 15,408 shares of company stock worth $103,043 in the last quarter. 12.67% of the stock is owned by company insiders.

Institutional Trading of Annexon

Several large investors have recently added to or reduced their stakes in ANNX. Vanguard Group Inc. grew its position in Annexon by 96.4% during 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 in the last quarter. Comerica Bank purchased a new position in shares of Annexon during the 1st quarter valued at $72,000. DNB Asset Management AS increased its stake in shares of Annexon by 29.4% in the second quarter. DNB Asset Management AS now owns 46,485 shares of the company's stock worth $228,000 after acquiring an additional 10,574 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Annexon during the second quarter worth $944,000. Finally, Bank of New York Mellon Corp boosted its position in Annexon by 42.9% during the second quarter. Bank of New York Mellon Corp now owns 258,033 shares of the company's stock valued at $1,264,000 after purchasing an additional 77,417 shares during the last quarter.

Annexon Stock Down 5.3 %

ANNX traded down $0.28 during trading on Tuesday, reaching $4.99. The stock had a trading volume of 1,780,573 shares, compared to its average volume of 1,486,023. The stock has a 50 day moving average of $6.56 and a two-hundred day moving average of $5.98. The firm has a market capitalization of $531.88 million, a price-to-earnings ratio of -4.75 and a beta of 1.10. Annexon has a 1-year low of $2.27 and a 1-year high of $8.40.

Annexon Company Profile

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.