Annexon’s (ANNX) Buy Rating Reiterated at HC Wainwright

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 492.89% from the stock’s previous close.

Several other equities analysts have also weighed in on ANNX. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Annexon in a research note on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon presently has a consensus rating of “Buy” and an average target price of $15.80.

Annexon Price Performance

Shares of Annexon stock opened at $5.06 on Tuesday. Annexon has a 1 year low of $2.68 and a 1 year high of $8.40. The company has a market capitalization of $539.37 million, a P/E ratio of -4.82 and a beta of 1.10. The business has a 50 day moving average price of $6.35 and a 200 day moving average price of $5.98.

Insider Transactions at Annexon

In other news, EVP Ted Yednock sold 4,500 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.10, for a total transaction of $31,950.00. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares of the company’s stock, valued at approximately $506,691.50. This trade represents a 5.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANNX. Parkman Healthcare Partners LLC raised its stake in shares of Annexon by 0.5% during the third quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company’s stock worth $1,945,000 after buying an additional 1,768 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Annexon by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock valued at $945,000 after purchasing an additional 2,450 shares during the period. GSA Capital Partners LLP raised its position in shares of Annexon by 10.7% in the third quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock valued at $205,000 after purchasing an additional 3,355 shares during the period. Allegheny Financial Group LTD increased its position in Annexon by 16.1% during the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock worth $123,000 after acquiring an additional 3,500 shares during the period. Finally, MetLife Investment Management LLC increased its position in Annexon by 11.8% during the third quarter. MetLife Investment Management LLC now owns 55,212 shares of the company’s stock worth $327,000 after acquiring an additional 5,814 shares during the period.

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.