Annexon, Inc. (NASDAQ:ANNX) Receives $14.43 Average Target Price from Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have received an average rating of “Buy” from the six ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.43.

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Annexon from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Thursday, April 11th. Bank of America boosted their price target on shares of Annexon from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, April 1st.

Annexon Stock Performance

NASDAQ ANNX opened at $4.45 on Monday. The stock has a market capitalization of $400.63 million, a P/E ratio of -2.50 and a beta of 1.14. Annexon has a 1 year low of $1.57 and a 1 year high of $8.40. The business’s fifty day moving average is $5.69 and its two-hundred day moving average is $4.13.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.09. On average, research analysts forecast that Annexon will post -1.36 earnings per share for the current year.

Insider Activity at Annexon

In related news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the sale, the chief executive officer now owns 196,121 shares of the company’s stock, valued at approximately $1,086,510.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders sold 8,940 shares of company stock valued at $49,514. Insiders own 19.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Annexon during the 3rd quarter worth $52,000. Tower Research Capital LLC TRC lifted its position in Annexon by 53.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after acquiring an additional 4,141 shares during the last quarter. Forefront Analytics LLC lifted its position in Annexon by 18.3% during the 3rd quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock worth $75,000 after acquiring an additional 4,890 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Annexon during the fourth quarter valued at about $221,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Annexon during the fourth quarter valued at about $306,000.

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.