Annexon, Inc. (NASDAQ:ANNX) Receives Average Recommendation of “Buy” from Brokerages

Annexon, Inc. (NASDAQ:ANNX) has earned an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.80.

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Annexon in a research note on Tuesday, December 17th. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Annexon in a research note on Tuesday, March 4th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings 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. Point72 Asset Management L.P. lifted its holdings in shares of Annexon by 5.6% in the fourth quarter. Point72 Asset Management L.P. now owns 5,626,796 shares of the company’s stock valued at $28,865,000 after purchasing an additional 299,798 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Annexon by 11.6% in the fourth quarter. Vanguard Group Inc. now owns 5,546,918 shares of the company’s stock worth $28,456,000 after acquiring an additional 576,625 shares during the last quarter. State Street Corp increased its stake in shares of Annexon by 116.6% in the third quarter. State Street Corp now owns 3,841,879 shares of the company’s stock worth $22,744,000 after acquiring an additional 2,068,294 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Annexon by 6.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,720,485 shares of the company’s stock worth $13,956,000 after acquiring an additional 164,915 shares during the last quarter.

Annexon Price Performance

Shares of ANNX opened at $2.75 on Thursday. The company has a market cap of $301.70 million, a P/E ratio of -2.62 and a beta of 1.14. The stock has a fifty day moving average price of $3.44 and a 200 day moving average price of $5.19. Annexon has a 12 month low of $2.30 and a 12 month high of $8.40.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). As a group, research analysts anticipate that Annexon will post -0.96 earnings per share for the current year.

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.