Annexon (NASDAQ:ANNX – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.
According to Zacks, “Annexon Inc. is a clinical-stage biopharmaceutical company. It engages in developing a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain and eye. The company’s product candidate includes ANX005 and ANX007, which are in clinical stage. Annexon Inc. is based in SAN FRANCISCO, Calif. “
A number of other brokerages also recently issued reports on ANNX. Needham & Company LLC decreased their price target on shares of Annexon from $37.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, April 8th. HC Wainwright decreased their price target on shares of Annexon from $40.00 to $30.00 in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $27.25.
Shares of NASDAQ ANNX traded down $0.04 during midday trading on Friday, hitting $3.25. The company’s stock had a trading volume of 24,838 shares, compared to its average volume of 743,546. The business’s fifty day simple moving average is $3.05 and its two-hundred day simple moving average is $8.25. Annexon has a 1 year low of $2.06 and a 1 year high of $24.85. The firm has a market capitalization of $125.32 million, a price-to-earnings ratio of -0.89 and a beta of 0.83.
Annexon (NASDAQ:ANNX – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.08. The business had revenue of $32.00 million during the quarter. During the same period last year, the firm posted ($0.68) earnings per share. The business’s revenue for the quarter was up 166.7% on a year-over-year basis. As a group, equities analysts forecast that Annexon will post -3.97 EPS for the current fiscal year.
In related news, CEO Douglas Love acquired 60,000 shares of Annexon stock in a transaction dated Thursday, April 14th. The stock was acquired at an average price of $2.45 per share, for a total transaction of $147,000.00. Following the transaction, the chief executive officer now owns 200,942 shares of the company’s stock, valued at $492,307.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.90% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in ANNX. Values First Advisors Inc. acquired a new position in shares of Annexon in the 1st quarter valued at $33,000. Kestra Advisory Services LLC acquired a new position in Annexon in the 1st quarter valued at $41,000. Royal Bank of Canada increased its stake in Annexon by 48.2% in the 3rd quarter. Royal Bank of Canada now owns 3,254 shares of the company’s stock valued at $61,000 after buying an additional 1,059 shares during the period. Forefront Analytics LLC acquired a new position in Annexon in the 1st quarter valued at $63,000. Finally, CNA Financial Corp boosted its position in shares of Annexon by 18.8% during the 1st quarter. CNA Financial Corp now owns 23,423 shares of the company’s stock worth $64,000 after purchasing an additional 3,713 shares in the last quarter.
Annexon Company Profile (Get Rating)
Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company’s C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.