Short Interest in Annexon, Inc. (NASDAQ:ANNX) Declines By 44.4%

Annexon, Inc. (NASDAQ:ANNX) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 4,050,000 shares, a decrease of 44.4% from the May 31st total of 7,280,000 shares. Based on an average trading volume of 2,870,000 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Ratings Changes

Several research firms recently issued reports on ANNX. Wells Fargo & Company lowered their price objective on Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. JPMorgan Chase & Co. upped their price objective on Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, June 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Wednesday, June 5th. Finally, Bank of America increased their price target on Annexon from $7.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Annexon currently has a consensus rating of “Buy” and a consensus target price of $15.33.

Annexon Stock Performance

Shares of Annexon stock opened at $4.90 on Friday. Annexon has a one year low of $1.57 and a one year high of $8.40. The stock’s fifty day moving average is $4.98 and its 200 day moving average is $5.02. The stock has a market cap of $452.81 million, a P/E ratio of -3.33 and a beta of 1.30.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.11. Analysts predict that Annexon will post -0.98 EPS for the current year.

Hedge Funds Weigh In On Annexon

A number of institutional investors have recently bought and sold shares of ANNX. Ameritas Investment Partners Inc. raised its holdings in Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after purchasing an additional 2,949 shares during the period. Tower Research Capital LLC TRC increased 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 buying an additional 4,141 shares in the last quarter. Comerica Bank purchased a new stake in Annexon in the 1st quarter worth $72,000. ProShare Advisors LLC purchased a new stake in Annexon in the 1st quarter worth $87,000. Finally, EntryPoint Capital LLC purchased a new stake in Annexon in the 1st quarter worth $98,000.

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.