Annexon, Inc. (NASDAQ:ANNX) Given Average Rating of “Buy” by Brokerages

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned an average recommendation of “Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $15.80.

A number of research firms have weighed in on ANNX. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Annexon in a report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, December 17th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State Street Corp lifted 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 period. Sio Capital Management LLC bought a new position in shares of Annexon in the 3rd quarter valued at about $8,484,000. Marshall Wace LLP grew its position in shares of Annexon by 436.6% during the 2nd quarter. Marshall Wace LLP now owns 1,693,665 shares of the company’s stock worth $8,299,000 after buying an additional 1,378,053 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 worth $29,346,000 after buying an additional 832,617 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in Annexon in the second quarter valued at approximately $3,134,000.

Annexon Stock Performance

Shares of Annexon stock opened at $4.17 on Wednesday. The firm has a market cap of $444.48 million, a P/E ratio of -3.97 and a beta of 1.11. The firm’s 50-day simple moving average is $5.13 and its 200-day simple moving average is $5.93. Annexon has a twelve month low of $3.86 and a twelve month high of $8.40.

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.