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

Key Points

• Annexon has a consensus recommendation of "Moderate Buy" from seven brokerages (five buys, one hold, one sell) with an average 1‑year target price of $17.00.
• Company insiders have been net sellers recently — executives sold a combined 32,513 shares over the last 90 days worth about $165,973, though insiders still own 12.67% of the stock.
• Shares trade around $6.43 with a market cap of $1.04 billion; Annexon reported Q1 EPS of ($0.28), beating estimates of ($0.32), and has a negative P/E of -4.73.

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.00.

A number of research firms recently commented on ANNX. Weiss Ratings reissued a "sell (d-)" rating on shares of Annexon in a report on Wednesday, January 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a research report on Wednesday, January 14th. Finally, Chardan Capital restated a "buy" rating and issued a $16.00 price target on shares of Annexon in a report on Friday, March 20th.

Insider Buying and Selling at Annexon

In related news, EVP Ted Yednock sold 7,857 shares of Annexon stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total transaction of $40,149.27. Following the completion of the transaction, the executive vice president directly owned 97,227 shares in the company, valued at $496,829.97. The trade was a 7.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dean Richard Artis sold 5,290 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total value of $26,979.00. Following the completion of the sale, the executive vice president owned 123,487 shares in the company, valued at $629,783.70. This represents a 4.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 32,513 shares of company stock worth $165,973. Insiders own 12.67% of the company's stock.

Institutional Investors Weigh In On Annexon

Several hedge funds have recently modified their holdings of ANNX. CIBC Bancorp USA Inc. acquired a new position in shares of Annexon in the third quarter valued at approximately $31,000. Engineers Gate Manager LP purchased a new stake in Annexon in the 2nd quarter worth approximately $32,000. SG Americas Securities LLC purchased a new stake in Annexon in the 3rd quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Annexon by 65.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,033 shares of the company's stock valued at $35,000 after acquiring an additional 2,785 shares during the last quarter. Finally, Savant Capital LLC acquired a new position in Annexon in the 3rd quarter valued at $40,000.

Annexon Stock Performance

Annexon stock opened at $6.43 on Tuesday. The company has a market cap of $1.04 billion, a P/E ratio of -4.73 and a beta of 1.14. Annexon has a one year low of $1.40 and a one year high of $7.18. The business has a fifty day moving average of $5.50 and a two-hundred day moving average of $4.87.

Annexon (NASDAQ:ANNX - Get Free Report) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.04. Sell-side analysts predict that Annexon will post -1.13 EPS for the current year.

Annexon Company Profile

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company's research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon's pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.