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

Shares of Annexon, Inc. (NASDAQ:ANNX) have been given an average rating of “Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.80.

Several brokerages have recently issued reports on ANNX. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Annexon in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Annexon in a research report on Tuesday, December 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised 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 valued at $22,744,000 after acquiring an additional 2,068,294 shares during the last quarter. Sio Capital Management LLC bought a new position in shares of Annexon in the third quarter valued at approximately $8,484,000. Sphera Funds Management LTD. bought a new position in shares of Annexon in the fourth quarter valued at approximately $6,377,000. Ameriprise Financial Inc. raised its stake in shares of Annexon by 483.6% in the fourth quarter. Ameriprise Financial Inc. now owns 926,642 shares of the company’s stock valued at $4,754,000 after acquiring an additional 767,869 shares during the last quarter. Finally, TFG Asset Management GP Ltd raised its stake in shares of Annexon by 78.5% in the fourth quarter. TFG Asset Management GP Ltd now owns 1,400,000 shares of the company’s stock valued at $7,182,000 after acquiring an additional 615,645 shares during the last quarter.

Annexon Price Performance

Annexon stock opened at $2.75 on Thursday. The company has a market capitalization of $301.70 million, a price-to-earnings ratio of -2.62 and a beta of 1.14. Annexon has a one year low of $2.30 and a one year high of $8.40. The company’s fifty day moving average price is $3.44 and its two-hundred day moving average price is $5.19.

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

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.