Analysts Set Annexon, Inc. (NASDAQ:ANNX) PT at $15.33

Annexon, Inc. (NASDAQ:ANNX) has been given an average rating of “Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.33.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Annexon in a research note on Tuesday, June 4th. Bank of America raised their price target on Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Tuesday, June 4th. Finally, Wells Fargo & Company dropped their target price on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BVF Inc. IL bought a new stake in shares of Annexon during the 4th quarter valued at $31,780,000. Bain Capital Life Sciences Investors LLC increased its stake in shares of Annexon by 41.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after acquiring an additional 2,359,793 shares in the last quarter. Bellevue Group AG purchased a new position in Annexon during the 1st quarter valued at about $15,647,000. Vanguard Group Inc. boosted its stake in Annexon by 96.4% during the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after acquiring an additional 1,839,329 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Annexon by 10,482.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after purchasing an additional 1,311,195 shares during the period.

Annexon Stock Performance

NASDAQ:ANNX opened at $5.04 on Friday. Annexon has a fifty-two week low of $1.57 and a fifty-two week high of $8.40. The firm has a market cap of $465.76 million, a PE ratio of -3.43 and a beta of 1.29. The business has a 50 day moving average price of $5.01 and a 200-day moving average price of $5.14.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.11. Research analysts predict that Annexon will post -0.98 EPS 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.