Annexon's (ANNX) Buy Rating Reiterated at HC Wainwright

Annexon (NASDAQ:ANNX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $30.00 target price on the stock. HC Wainwright's target price suggests a potential upside of 390.20% from the stock's previous close.

ANNX has been the topic of a number of other research reports. Needham & Company LLC reiterated a "buy" rating and issued a $16.00 price target on shares of Annexon in a report on Tuesday, August 13th. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a report on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $15.80.

Annexon Price Performance

Annexon stock traded down $0.21 during mid-day trading on Friday, reaching $6.12. The company had a trading volume of 1,916,393 shares, compared to its average volume of 1,819,267. Annexon has a 1 year low of $2.27 and a 1 year high of $8.40. The company has a market capitalization of $646.58 million, a P/E ratio of -5.05 and a beta of 1.23. The stock's 50-day simple moving average is $6.89 and its 200-day simple moving average is $5.90.

Annexon (NASDAQ:ANNX - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.23). On average, equities analysts forecast that Annexon will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction 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 in the company, valued at approximately $528,814.65. This represents a 7.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 20,908 shares of company stock valued at $135,768 over the last ninety days. Corporate insiders own 12.67% of the company's stock.

Institutional Investors Weigh In On Annexon

Hedge funds have recently made changes to their positions in the company. Parkman Healthcare Partners LLC grew its position in shares of Annexon by 0.5% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company's stock worth $1,945,000 after buying an additional 1,768 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Annexon by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company's stock worth $945,000 after buying an additional 2,450 shares during the period. 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 worth $48,000 after buying an additional 2,949 shares during the period. GSA Capital Partners LLP grew its position in shares of Annexon by 10.7% during the 3rd quarter. GSA Capital Partners LLP now owns 34,581 shares of the company's stock worth $205,000 after buying an additional 3,355 shares during the period. Finally, Allegheny Financial Group LTD grew its position in shares of Annexon by 16.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company's stock worth $123,000 after buying an additional 3,500 shares during the period.

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.