Analysts Set Annexon, Inc. (NASDAQ:ANNX) Price Target at $15.80

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

A number of brokerages recently weighed in on ANNX. Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a research note on Monday, September 9th. HC Wainwright reaffirmed 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 reissued a "buy" rating and issued a $16.00 price objective on shares of Annexon in a research note on Tuesday, August 13th.

Annexon Price Performance

Shares of ANNX traded down $0.13 during mid-day trading on Friday, hitting $7.23. The company's stock had a trading volume of 835,773 shares, compared to its average volume of 1,832,532. The firm has a 50-day moving average price of $6.79 and a 200 day moving average price of $5.83. Annexon has a fifty-two week low of $2.05 and a fifty-two week high of $8.40. The stock has a market capitalization of $763.85 million, a price-to-earnings ratio of -5.98 and a beta of 1.23.

Annexon (NASDAQ:ANNX - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). As a group, equities analysts anticipate that Annexon will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 4,500 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total transaction of $31,950.00. Following the transaction, the executive vice president now owns 71,365 shares of the company's stock, valued at approximately $506,691.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 20,908 shares of company stock worth $135,768. Corporate insiders own 12.67% of the company's stock.

Hedge Funds Weigh In On Annexon

Institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in shares of Annexon by 3.1% during the third quarter. Mutual of America Capital Management LLC now owns 659,254 shares of the company's stock worth $3,903,000 after buying an additional 19,681 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Annexon by 10.7% in the third quarter. GSA Capital Partners LLP now owns 34,581 shares of the company's stock valued at $205,000 after buying an additional 3,355 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in Annexon by 34.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 259,404 shares of the company's stock valued at $1,536,000 after acquiring an additional 66,792 shares during the period. Creative Planning lifted its position in shares of Annexon by 29.5% in the 3rd quarter. Creative Planning now owns 34,779 shares of the company's stock worth $206,000 after acquiring an additional 7,914 shares during the period. Finally, Park Avenue Securities LLC increased its position in shares of Annexon by 136.2% during the third quarter. Park Avenue Securities LLC now owns 118,068 shares of the company's stock valued at $699,000 after purchasing an additional 68,082 shares during the period.

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.