Annexon (NASDAQ:ANNX) Earns Buy Rating from Needham & Company LLC

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $16.00 price target on the stock.

Several other brokerages have also recently weighed in on ANNX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, December 17th. Six 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 NASDAQ:ANNX opened at $2.39 on Tuesday. The firm’s 50-day moving average is $3.96 and its two-hundred day moving average is $5.42. Annexon has a 1 year low of $2.39 and a 1 year high of $8.40. The firm has a market capitalization of $254.76 million, a PE ratio of -2.28 and a beta of 1.07.

Annexon (NASDAQ:ANNX) last released its earnings results on Monday, March 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Analysts expect that Annexon will post -0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of Annexon by 3.2% during the third quarter. FMR LLC now owns 8,561,949 shares of the company’s stock worth $50,687,000 after purchasing an additional 262,229 shares in the last quarter. Point72 Asset Management L.P. increased its position in Annexon by 5.6% during the fourth quarter. Point72 Asset Management L.P. now owns 5,626,796 shares of the company’s stock worth $28,865,000 after buying an additional 299,798 shares during the period. Vanguard Group Inc. increased its position in Annexon by 11.6% during the fourth quarter. Vanguard Group Inc. now owns 5,546,918 shares of the company’s stock worth $28,456,000 after buying an additional 576,625 shares during the period. State Street Corp lifted its stake in Annexon by 116.6% in the third quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after buying an additional 2,068,294 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings 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 valued at $13,956,000 after acquiring an additional 164,915 shares during the period.

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.