Annexon (NASDAQ:ANNX) Shares Up 9.6% – What’s Next?

by · The Markets Daily

Annexon, Inc. (NASDAQ:ANNX – Get Free Report)’s share price shot up 9.6% during trading on Friday . The stock traded as high as $5.26 and last traded at $5.2850. 860,115 shares traded hands during trading, a decline of 53% from the average session volume of 1,839,281 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

ANNX has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Annexon from $14.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Annexon has a consensus rating of “Hold” and a consensus target price of $17.33.

Check Out Our Latest Report on Annexon

Annexon Stock Performance

The firm has a 50-day moving average of $3.72 and a 200-day moving average of $2.94. The firm has a market capitalization of $627.48 million, a P/E ratio of -3.73 and a beta of 1.20.

Annexon (NASDAQ:ANNX – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). Equities analysts anticipate that Annexon, Inc. will post -0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Annexon news, Director Muneer A. Satter bought 422,613 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $4.28 per share, with a total value of $1,808,783.64. Following the completion of the purchase, the director directly owned 9,728,637 shares of the company’s stock, valued at $41,638,566.36. This trade represents a 4.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jung Choi purchased 33,000 shares of Annexon stock in a transaction that occurred on Monday, December 1st. The shares were acquired at an average price of $4.19 per share, for a total transaction of $138,270.00. Following the acquisition, the director owned 33,000 shares in the company, valued at $138,270. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 1,867,958 shares of company stock worth $7,248,043. Insiders own 11.87% of the company’s stock.

Institutional Investors Weigh In On Annexon

A number of large investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI raised its holdings in shares of Annexon by 14.3% during the third quarter. Citizens Financial Group Inc. RI now owns 40,000 shares of the company’s stock valued at $122,000 after acquiring an additional 5,000 shares in the last quarter. CWM LLC increased its position in Annexon by 32.4% during the 3rd quarter. CWM LLC now owns 23,488 shares of the company’s stock valued at $72,000 after purchasing an additional 5,754 shares during the period. Hsbc Holdings PLC increased its position in Annexon by 19.9% during the 1st quarter. Hsbc Holdings PLC now owns 36,935 shares of the company’s stock valued at $73,000 after purchasing an additional 6,136 shares during the period. Comerica Bank raised its holdings in Annexon by 26.4% in the 3rd quarter. Comerica Bank now owns 32,357 shares of the company’s stock worth $99,000 after purchasing an additional 6,750 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Annexon by 8.2% in the 1st quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock worth $193,000 after purchasing an additional 7,553 shares during the period.

About Annexon

(Get Free Report)

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.

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