Annexon, Inc. (NASDAQ:ANNX) Given Average Recommendation of “Buy” by Brokerages

Annexon, Inc. (NASDAQ:ANNX) has been assigned a consensus recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $15.80.

A number of research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Tuesday, December 17th.

Annexon Price Performance

NASDAQ ANNX opened at $5.19 on Friday. The stock’s 50 day simple moving average is $5.99 and its 200-day simple moving average is $5.95. The company has a market cap of $553.22 million, a PE ratio of -4.94 and a beta of 1.11. Annexon has a 1-year low of $3.86 and a 1-year high of $8.40.

Insiders Place Their Bets

In other Annexon news, EVP Ted Yednock sold 5,408 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the transaction, the executive vice president now directly owns 71,365 shares in the company, valued at $528,814.65. The trade was a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Several institutional investors have recently made changes to their positions in ANNX. Bank of New York Mellon Corp increased its position in shares of Annexon by 42.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 258,033 shares of the company’s stock worth $1,264,000 after purchasing an additional 77,417 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Annexon during the second quarter valued at about $56,000. Rhumbline Advisers raised its stake in shares of Annexon by 54.5% in the 2nd quarter. Rhumbline Advisers now owns 126,659 shares of the company’s stock valued at $621,000 after acquiring an additional 44,681 shares during the period. Allegheny Financial Group LTD raised its stake in shares of Annexon by 16.1% in the 2nd 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. Finally, Ovata Capital Management Ltd acquired a new position in shares of Annexon in the 2nd quarter worth approximately $980,000.

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.