Annexon (NASDAQ:ANNX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $16.00 target price on the stock.

A number of other analysts also recently weighed in on ANNX. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, December 17th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon currently has a consensus rating of “Buy” and an average target price of $15.80.

Annexon Price Performance

Annexon stock opened at $2.47 on Tuesday. Annexon has a 12-month low of $2.30 and a 12-month high of $8.40. The stock has a market capitalization of $263.29 million, a P/E ratio of -2.35 and a beta of 1.07. The firm’s 50-day moving average is $3.96 and its two-hundred day moving average is $5.42.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.05). As a group, analysts forecast that Annexon will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ANNX. TFG Asset Management GP Ltd lifted its holdings in shares of Annexon by 78.5% during the 4th quarter. TFG Asset Management GP Ltd now owns 1,400,000 shares of the company’s stock valued at $7,182,000 after purchasing an additional 615,645 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Annexon during the 4th quarter worth approximately $252,000. Shay Capital LLC bought a new stake in Annexon in the 4th quarter valued at $159,000. Sphera Funds Management LTD. bought a new stake in Annexon in the 4th quarter valued at $6,377,000. Finally, Rafferty Asset Management LLC boosted its stake in Annexon by 23.5% in the 4th quarter. Rafferty Asset Management LLC now owns 218,369 shares of the company’s stock valued at $1,120,000 after purchasing an additional 41,544 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.