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

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 492.89% from the stock’s current price.

ANNX has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Annexon has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Performance

ANNX stock opened at $5.06 on Tuesday. Annexon has a 52-week low of $2.68 and a 52-week high of $8.40. The business has a 50-day simple moving average of $6.35 and a two-hundred day simple moving average of $5.98. The company has a market capitalization of $539.37 million, a P/E ratio of -4.82 and a beta of 1.10.

Insider Activity

In other news, EVP Ted Yednock sold 5,408 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the sale, the executive vice president now directly owns 71,365 shares in the company, valued at $528,814.65. This trade represents a 7.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

A number of institutional investors and hedge funds have recently made changes to their positions in ANNX. Point72 Asset Management L.P. raised its holdings in shares of Annexon by 16.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after purchasing an additional 832,617 shares in the last quarter. Point72 Europe London LLP purchased a new position in Annexon during the second quarter valued at $1,150,000. Charles Schwab Investment Management Inc. lifted its holdings in Annexon by 221.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company’s stock valued at $4,335,000 after purchasing an additional 504,656 shares in the last quarter. FMR LLC grew its position in shares of Annexon by 3.2% in the third quarter. FMR LLC now owns 8,561,949 shares of the company’s stock valued at $50,687,000 after purchasing an additional 262,229 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new position in Annexon in the second quarter worth approximately $3,134,000.

About Annexon

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.