Insider Buying: Annexon, Inc. (NASDAQ:ANNX) Director Purchases 3,200 Shares of Stock

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) Director William H. Carson bought 3,200 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $5.48 per share, for a total transaction of $17,536.00. Following the completion of the purchase, the director now directly owns 19,200 shares of the company's stock, valued at approximately $105,216. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Annexon Stock Performance

Shares of NASDAQ ANNX traded up $0.18 during trading hours on Wednesday, hitting $5.59. The stock had a trading volume of 585,951 shares, compared to its average volume of 1,954,695. The company has a market capitalization of $590.58 million, a P/E ratio of -3.72 and a beta of 1.29. The firm's 50-day moving average price is $5.64 and its two-hundred day moving average price is $5.47. Annexon, Inc. has a 52 week low of $1.57 and a 52 week high of $8.40.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ANNX shares. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, August 13th. Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Annexon in a report on Tuesday, August 13th. Wells Fargo & Company lowered their price target on Annexon from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a report on Wednesday, June 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $15.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its position in Annexon by 78.2% in the first 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. Allegheny Financial Group LTD grew its position in Annexon by 16.1% in the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company's stock valued at $123,000 after acquiring an additional 3,500 shares during the period. Comerica Bank bought a new stake in Annexon in the first quarter valued at $72,000. Sandia Investment Management LP bought a new stake in shares of Annexon during the second quarter worth $49,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Annexon during the second quarter worth $51,000.

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.

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