Annexon (NASDAQ:ANNX) Earns Buy Rating from Needham & Company LLC

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $16.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 161.44% from the company’s previous close.

A number of other research analysts have also commented on ANNX. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annexon in a research report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Trading Down 3.3 %

ANNX stock opened at $6.12 on Friday. The firm has a 50 day moving average of $6.91 and a 200-day moving average of $5.92. The firm has a market capitalization of $646.58 million, a P/E ratio of -4.98 and a beta of 1.23. Annexon has a 12 month low of $2.27 and a 12 month high of $8.40.

Insider Transactions at Annexon

In related news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.64, for a total value of $31,020.00. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at $56,400. The trade was a 35.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 20,908 shares of company stock valued at $135,768. Insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

A number of large investors have recently added to or reduced their stakes in ANNX. Bain Capital Life Sciences Investors LLC increased its stake in shares of Annexon by 8.0% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock worth $62,402,000 after buying an additional 641,549 shares during the period. FMR LLC increased its position in shares of Annexon by 3.2% in the third quarter. FMR LLC now owns 8,561,949 shares of the company’s stock valued at $50,687,000 after acquiring an additional 262,229 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Annexon by 16.1% during the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after acquiring an additional 832,617 shares during the last quarter. State Street Corp raised its stake in shares of Annexon by 116.6% during 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. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,839,329 shares during the period.

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.