Annexon (NASDAQ:ANNX) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Annexon (NASDAQ:ANNX) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $30.00 target price on the stock. HC Wainwright also issued estimates for Annexon’s FY2027 earnings at $0.49 EPS and FY2028 earnings at $0.90 EPS.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.80.

Annexon Trading Down 3.3 %

Annexon stock traded down $0.21 during mid-day trading on Friday, hitting $6.12. The stock had a trading volume of 1,917,213 shares, compared to its average volume of 1,819,268. The firm’s 50 day moving average is $6.91 and its 200 day moving average is $5.92. The firm has a market capitalization of $646.58 million, a P/E ratio of -4.98 and a beta of 1.23. Annexon has a one year low of $2.27 and a one year high of $8.40.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the transaction, the executive vice president now owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. This trade represents a 7.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 20,908 shares of company stock valued at $135,768. 12.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annexon

Several institutional investors have recently modified their holdings of the stock. Bellevue Group AG bought a new stake in Annexon in the first quarter worth $15,647,000. State Street Corp boosted its stake in shares of Annexon by 116.6% during the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock worth $22,744,000 after purchasing an additional 2,068,294 shares during the period. Candriam S.C.A. bought a new position in Annexon during the 2nd quarter valued at about $10,061,000. Vanguard Group Inc. raised its position in Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after purchasing an additional 1,839,329 shares during the period. Finally, Sio Capital Management LLC purchased a new position in shares of Annexon during the third quarter valued at approximately $8,484,000.

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.