J. Safra Sarasin Holding AG Purchases 126,903 Shares of Annexon, Inc. $ANNX

Key Points

• J. Safra Sarasin Holding AG increased its stake in Annexon, Inc. by 49.9%, acquiring an additional 126,903 shares during the second quarter, bringing its total ownership to 381,441 shares, valued at approximately $915,000.
• Annexon reported a loss of $0.34 per share for the most recent quarter, which was better than analysts' expectations of a loss of $0.36.
• Analysts have mixed opinions on Annexon, with a consensus rating of "Hold" and an average target price set at $12.50, while HC Wainwright continues to maintain a "Buy" rating with a target of $14.00.

J. Safra Sarasin Holding AG grew its position in shares of Annexon, Inc. (NASDAQ:ANNX - Free Report) by 49.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 381,441 shares of the company's stock after purchasing an additional 126,903 shares during the period. J. Safra Sarasin Holding AG owned about 0.35% of Annexon worth $915,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Annexon during the first quarter worth about $670,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Annexon during the fourth quarter worth about $252,000. California State Teachers Retirement System lifted its stake in Annexon by 849.0% during the fourth quarter. California State Teachers Retirement System now owns 66,375 shares of the company's stock worth $341,000 after purchasing an additional 59,381 shares during the last quarter. Wellington Management Group LLP lifted its stake in Annexon by 32.9% during the first quarter. Wellington Management Group LLP now owns 356,480 shares of the company's stock worth $688,000 after purchasing an additional 88,314 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Annexon by 114.3% in the fourth quarter. Millennium Management LLC now owns 155,676 shares of the company's stock worth $799,000 after buying an additional 83,021 shares during the period.

Annexon Stock Performance

ANNX stock opened at $3.19 on Friday. Annexon, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $7.85. The business's 50 day moving average price is $2.48 and its two-hundred day moving average price is $2.26. The company has a market capitalization of $350.55 million, a price-to-earnings ratio of -2.47 and a beta of 1.36.

Annexon (NASDAQ:ANNX - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.36) by $0.02. Sell-side analysts forecast that Annexon, Inc. will post -0.96 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on ANNX shares. Zacks Research upgraded Annexon from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Annexon in a report on Friday, August 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Annexon in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.50.

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.

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