Annexon, Inc. (NASDAQ:ANNX) Receives $14.43 Consensus Target Price from Brokerages

Annexon, Inc. (NASDAQ:ANNX) has been assigned a consensus rating of “Buy” from the six research firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $14.43.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a research report on Thursday, April 11th. Bank of America lifted their price objective on Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research report on Wednesday, March 27th.

Annexon Price Performance

ANNX opened at $4.70 on Monday. The stock’s 50 day simple moving average is $5.67 and its 200 day simple moving average is $4.15. Annexon has a 1 year low of $1.57 and a 1 year high of $8.40. The firm has a market cap of $423.14 million, a price-to-earnings ratio of -2.64 and a beta of 1.14.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Tuesday, March 26th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.09. As a group, sell-side analysts anticipate that Annexon will post -1.36 EPS for the current year.

Insider Activity

In other news, CEO Douglas Love sold 5,782 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the transaction, the chief executive officer now owns 196,121 shares in the company, valued at approximately $1,086,510.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 8,940 shares of company stock worth $49,514 in the last quarter. 19.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bain Capital Life Sciences Investors LLC lifted its stake in shares of Annexon by 41.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after purchasing an additional 2,359,793 shares during the period. BVF Inc. IL purchased a new position in Annexon during the fourth quarter valued at $31,780,000. Kennedy Capital Management LLC purchased a new position in Annexon during the third quarter valued at $2,306,000. Sectoral Asset Management Inc. raised its stake in Annexon by 33.2% during the third quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock valued at $2,121,000 after buying an additional 224,156 shares during the last quarter. Finally, Silverarc Capital Management LLC raised its stake in Annexon by 2.5% during the third quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock valued at $943,000 after buying an additional 9,805 shares during the last quarter.

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.