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

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 390.20% from the stock’s previous close. HC Wainwright also issued estimates for Annexon’s FY2027 earnings at $0.49 EPS and FY2028 earnings at $0.90 EPS.

ANNX has been the topic of several other reports. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Price Performance

Shares of ANNX stock opened at $6.12 on Friday. The company has a market cap of $646.58 million, a P/E ratio of -4.98 and a beta of 1.23. The stock’s 50-day moving average is $6.91 and its 200 day moving average is $5.92. Annexon has a 1-year low of $2.27 and a 1-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 that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the transaction, the executive vice president now owns 71,365 shares in the company, valued at approximately $528,814.65. This represents a 7.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 20,908 shares of company stock valued at $135,768 in the last ninety days. Company insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Parkman Healthcare Partners LLC boosted its stake in shares of Annexon by 0.5% in 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 grew its position in shares of Annexon by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock valued at $945,000 after acquiring an additional 2,450 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Annexon by 78.2% in the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after purchasing an additional 2,949 shares during the period. GSA Capital Partners LLP increased its holdings in Annexon by 10.7% in the 3rd quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock worth $205,000 after acquiring an additional 3,355 shares in the last quarter. Finally, Allegheny Financial Group LTD increased its stake in shares of 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 purchasing an additional 3,500 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.