Annexon (NASDAQ:ANNX) Stock Price Up 6.8%

Annexon, Inc. (NASDAQ:ANNX) shares rose 6.8% during mid-day trading on Monday . The stock traded as high as $6.22 and last traded at $6.14. Approximately 237,128 shares changed hands during trading, a decline of 88% from the average daily volume of 1,930,923 shares. The stock had previously closed at $5.75.

Analyst Ratings Changes

ANNX has been the topic of several research reports. Wells Fargo & Company cut their price target on Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Monday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.80.

Annexon Price Performance

The firm has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $5.50. The stock has a market cap of $571.11 million, a price-to-earnings ratio of -4.20 and a beta of 1.28.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). On average, sell-side analysts expect that Annexon, Inc. will post -0.97 earnings per share for the current fiscal year.

Insider Transactions at Annexon

In other news, EVP Ted Yednock sold 5,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.64, for a total transaction of $31,020.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $56,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have acquired 9,600 shares of company stock valued at $53,504 and have sold 12,888 shares valued at $75,122. 12.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Annexon by 10,482.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after buying an additional 1,311,195 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Annexon by 96.4% during the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after buying an additional 1,839,329 shares in the last quarter. BVF Inc. IL bought a new position in shares of Annexon during the fourth quarter worth about $31,780,000. Bellevue Group AG bought a new position in shares of Annexon during the first quarter worth about $15,647,000. Finally, Bain Capital Life Sciences Investors LLC grew its holdings in shares of Annexon by 41.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after buying an additional 2,359,793 shares in the last quarter.

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.