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

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $15.33.

ANNX has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Wednesday, June 5th. Wells Fargo & Company reduced their target price on Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Annexon in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, April 1st.

Annexon Price Performance

ANNX opened at $5.62 on Tuesday. The stock has a market capitalization of $519.34 million, a P/E ratio of -3.82 and a beta of 1.30. The company’s 50 day simple moving average is $5.09 and its 200-day simple moving average is $4.86. Annexon has a one year low of $1.57 and a one year high of $8.40.

Annexon (NASDAQ:ANNX) last released its earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.11. As a group, analysts anticipate that Annexon will post -0.98 EPS for the current year.

Hedge Funds Weigh In On Annexon

Institutional investors and hedge funds have recently modified their holdings of the business. Silverarc Capital Management LLC lifted its stake in Annexon by 2.5% in the third quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock valued at $943,000 after buying an additional 9,805 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Annexon during the third quarter worth $2,306,000. Sectoral Asset Management Inc. lifted its position in Annexon by 33.2% in the 3rd quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock valued at $2,121,000 after acquiring an additional 224,156 shares in the last quarter. SG Americas Securities LLC boosted its stake in Annexon by 14.1% in the 4th quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock worth $115,000 after purchasing an additional 3,123 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Annexon by 53.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after purchasing an additional 4,141 shares during the period.

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.