Annexon, Inc. (ANNX) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts have a mixed outlook: Annexon has an average “Hold” rating from 10 firms, with six buys, two holds, and two sells. The average 12-month price target is $15.29 versus the stock’s $3.96 opening price.
• The stock has declined 1.5% and remains below its 50-day and 200-day moving averages. Annexon recently reported a quarterly loss of $0.28 per share, missing the consensus estimate of a $0.24 loss.
• Insider and institutional interest remains notable: CEO Douglas Love increased his stake by 7.15%, while major investors including Redmile Group, BlackRock, BVF, and Bank of America recently expanded or initiated positions.

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) has earned an average recommendation of "Hold" from the ten research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.29.

A number of equities research analysts have weighed in on the stock. Citigroup initiated coverage on shares of Annexon in a research report on Tuesday, July 21st. They set a "market underperform" rating for the company. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a report on Monday, July 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Annexon in a research report on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $14.00 price objective on shares of Annexon in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Annexon from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, September 30th.

Annexon Trading Down 1.5%

NASDAQ ANNX opened at $3.96 on Tuesday. The stock has a market cap of $750.74 million, a PE ratio of -3.41 and a beta of 1.32. Annexon has a twelve month low of $2.54 and a twelve month high of $7.18. The stock has a fifty day simple moving average of $4.62 and a 200-day simple moving average of $5.19.

Annexon (NASDAQ:ANNX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Research analysts predict that Annexon will post -1.05 EPS for the current year.

Insider Buying and Selling

In other news, CEO Douglas Love purchased 26,065 shares of the stock in a transaction dated Thursday, September 24th. The stock was acquired at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the completion of the transaction, the chief executive officer directly owned 390,476 shares in the company, valued at approximately $1,495,523.08. This represents a 7.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 10.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently modified their holdings of the company. Redmile Group LLC lifted its stake in Annexon by 44.8% during the 1st quarter. Redmile Group LLC now owns 14,549,768 shares of the company's stock worth $80,606,000 after acquiring an additional 4,499,124 shares in the last quarter. BlackRock Inc. acquired a new position in Annexon in the 2nd quarter valued at about $77,312,000. BVF Inc. IL grew its position in Annexon by 30.4% in the 4th quarter. BVF Inc. IL now owns 9,128,080 shares of the company's stock valued at $45,823,000 after acquiring an additional 2,128,080 shares in the last quarter. Bank of America Corp DE increased its stake in Annexon by 165.3% during the first quarter. Bank of America Corp DE now owns 4,259,995 shares of the company's stock worth $23,600,000 after purchasing an additional 2,654,414 shares during the period. Finally, Siren L.L.C. purchased a new stake in Annexon during the first quarter worth about $21,931,000.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company developing therapies for diseases driven by activation of the classical complement pathway, an immune-system mechanism involved in inflammation and tissue damage. The company's approach is designed to selectively inhibit complement activity while preserving other parts of the immune response.

Annexon's pipeline has included ANX005, an investigational monoclonal antibody that targets C1q, an initiating protein in the classical complement pathway.

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