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

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

Several other analysts also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annexon in a report on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.80.

Annexon Stock Down 9.5 %

Shares of ANNX stock opened at $2.39 on Tuesday. The stock’s 50-day moving average price is $3.96 and its 200 day moving average price is $5.42. The stock has a market capitalization of $254.76 million, a PE ratio of -2.28 and a beta of 1.07. Annexon has a 52-week low of $2.39 and a 52-week high of $8.40.

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 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Annexon by 116.6% during the 3rd 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 period. Sio Capital Management LLC acquired a new position in Annexon during the third quarter worth $8,484,000. Sphera Funds Management LTD. purchased a new stake in Annexon during the fourth quarter worth $6,377,000. Ameriprise Financial Inc. boosted its position in Annexon by 483.6% during the fourth quarter. Ameriprise Financial Inc. now owns 926,642 shares of the company’s stock worth $4,754,000 after purchasing an additional 767,869 shares in the last quarter. Finally, TFG Asset Management GP Ltd grew its holdings in 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 purchasing an additional 615,645 shares during the last quarter.

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.