Annexon’s (ANNX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Annexon (NASDAQ:ANNXFree Report) in a report released on Tuesday morning, Benzinga reports. They currently have a $16.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright restated a buy rating and set a $30.00 target price on shares of Annexon in a report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Annexon from $11.00 to $13.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Wells Fargo & Company dropped their price target on shares of Annexon from $12.00 to $10.00 and set an overweight rating on the stock in a research note on Wednesday, May 15th. Cantor Fitzgerald reiterated an overweight rating on shares of Annexon in a research note on Wednesday, April 24th. Finally, Bank of America upped their price target on shares of Annexon from $7.00 to $10.00 and gave the stock a buy rating in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Annexon presently has an average rating of Buy and an average target price of $15.33.

Check Out Our Latest Research Report on Annexon

Annexon Trading Up 30.8 %

Shares of ANNX stock opened at $5.99 on Tuesday. Annexon has a 12 month low of $1.57 and a 12 month high of $8.40. The stock has a market cap of $553.54 million, a PE ratio of -4.07 and a beta of 1.30. The company’s fifty day moving average price is $5.23 and its 200-day moving average price is $4.69.

Annexon (NASDAQ:ANNXGet Free Report) last announced its earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. On average, sell-side analysts forecast that Annexon will post -0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bain Capital Life Sciences Investors LLC lifted its stake in Annexon by 8.0% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock valued at $62,402,000 after acquiring an additional 641,549 shares during the period. BVF Inc. IL purchased a new stake in shares of Annexon during the 4th quarter valued at about $31,780,000. Vanguard Group Inc. increased its position in shares of Annexon by 96.4% during the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 shares during the last quarter. Bellevue Group AG purchased a new stake in shares of Annexon during the 1st quarter valued at about $15,647,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock valued at $9,492,000 after purchasing an additional 1,311,195 shares during 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.

Further Reading

Analyst Recommendations for Annexon (NASDAQ:ANNX)

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