Annexon (NASDAQ:ANNX) Given Buy Rating at HC Wainwright

Annexon (NASDAQ:ANNX - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock.

Several other brokerages also recently issued reports on ANNX. Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Annexon in a report on Friday, November 15th. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a research note on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $15.80.

Annexon Stock Down 3.6 %

Shares of NASDAQ:ANNX traded down $0.18 during trading on Tuesday, hitting $4.88. 1,834,796 shares of the company traded hands, compared to its average volume of 1,786,023. The business's fifty day moving average is $6.33 and its 200-day moving average is $5.98. The stock has a market capitalization of $520.18 million, a price-to-earnings ratio of -4.67 and a beta of 1.10. Annexon has a one year low of $2.68 and a one year high of $8.40.

Insider Activity

In other news, EVP Ted Yednock sold 4,500 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.10, for a total transaction of $31,950.00. Following the completion of the sale, the executive vice president now directly owns 71,365 shares of the company's stock, valued at $506,691.50. This represents a 5.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 12.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its holdings in shares of Annexon by 16.1% in the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company's stock valued at $29,346,000 after purchasing an additional 832,617 shares in the last quarter. Point72 Europe London LLP purchased a new stake in shares of Annexon in the second quarter worth approximately $1,150,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Annexon by 221.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company's stock worth $4,335,000 after purchasing an additional 504,656 shares during the period. FMR LLC grew its position in Annexon by 3.2% during the third quarter. FMR LLC now owns 8,561,949 shares of the company's stock valued at $50,687,000 after purchasing an additional 262,229 shares in the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in Annexon in the 2nd quarter valued at approximately $3,134,000.

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.