Annexon (NASDAQ:ANNX) Stock Price Up 6.7% - What's Next?
Annexon, Inc. (NASDAQ:ANNX) stock rose 6.7% to $4.4080, with trading volume down 87% from average. Analysts have mixed ratings: Wells Fargo raised its target price to $27, while Weiss Ratings reiterated a sell rating. Insider Muneer A. Satter bought 500,000 shares, increasing his stake by 5.95%. Institutional investors have also adjusted their holdings. Annexon is developing ANX005 for inflammatory diseases, currently in Phase 3 trials for Guillain-Barré syndrome.
Annexon, Inc. (NASDAQ:ANNX - Get Free Report)'s stock price traded up 6.7% on Tuesday . The stock traded as high as $4.31 and last traded at $4.4080. 238,069 shares were traded during trading, a decline of 87% from the average session volume of 1,783,634 shares. The stock had previously closed at $4.13.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Annexon in a research note on Wednesday, October 8th. Zacks Research upgraded Annexon from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Wells Fargo & Company boosted their target price on Annexon from $14.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, November 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $14.00 target price on shares of Annexon in a research report on Friday, August 15th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $17.33.
Check Out Our Latest Research Report on ANNX
Annexon Stock Up 0.1%
The stock has a market cap of $494.68 million, a PE ratio of -3.21 and a beta of 1.28. The stock has a fifty day moving average of $3.29 and a 200-day moving average of $2.71.
Annexon (NASDAQ:ANNX - Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Equities research analysts forecast that Annexon, Inc. will post -0.96 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Muneer A. Satter acquired 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average price of $3.94 per share, with a total value of $1,970,000.00. Following the completion of the purchase, the director directly owned 8,906,024 shares in the company, valued at approximately $35,089,734.56. The trade was a 5.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders purchased 1,830,843 shares of company stock worth $7,091,379. Insiders own 11.87% of the company's stock.
Institutional Investors Weigh In On Annexon
Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen LLC acquired a new position in Annexon in the 1st quarter valued at $670,000. J. Safra Sarasin Holding AG grew its holdings in shares of Annexon by 49.9% during the 2nd quarter. J. Safra Sarasin Holding AG now owns 381,441 shares of the company's stock worth $915,000 after purchasing an additional 126,903 shares during the period. Wellington Management Group LLP increased its position in shares of Annexon by 32.9% in the first quarter. Wellington Management Group LLP now owns 356,480 shares of the company's stock worth $688,000 after acquiring an additional 88,314 shares in the last quarter. Matauro LLC purchased a new position in Annexon in the second quarter valued at about $27,000. Finally, XTX Topco Ltd lifted its position in Annexon by 65.4% during the 1st quarter. XTX Topco Ltd now owns 58,130 shares of the company's stock worth $112,000 after acquiring an additional 22,979 shares in the last quarter.
About Annexon
(Get Free Report)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.
Featured Articles
- Five stocks we like better than Annexon
- Transportation Stocks Investing
- Here's Who Wins If Trump's 50-Year Mortgages Come to Market
- Stock Trading Terms - Stock Terms Every Investor Needs to Know
- NVIDIA’s $2B Power Play: Securing the Future of Chip Design
- What is the Dow Jones Industrial Average (DJIA)?
- Insiders Swarm Vertical Aerospace Stock Ahead of Make-or-Break Reveal
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Annexon Right Now?
Before you consider Annexon, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Annexon wasn't on the list.
While Annexon currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
