Annexon’s (ANNX) Buy Rating Reiterated at Needham & Company LLC

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 152.76% from the stock’s current price.

Several other equities research analysts also recently commented on ANNX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Friday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Price Performance

Shares of NASDAQ:ANNX opened at $6.33 on Friday. The company has a market capitalization of $668.76 million, a PE ratio of -5.15 and a beta of 1.23. Annexon has a 1-year low of $2.27 and a 1-year high of $8.40. The business has a fifty day moving average price of $6.89 and a 200-day moving average price of $5.90.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). On average, sell-side analysts anticipate that Annexon will post -0.97 earnings per share for the current fiscal year.

Insider Activity at Annexon

In other Annexon news, EVP Ted Yednock sold 5,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.95, for a total transaction of $32,725.00. Following the completion of the sale, the executive vice president now owns 15,500 shares of the company’s stock, valued at approximately $92,225. The trade was a 26.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 20,908 shares of company stock worth $135,768. 12.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANNX. Sio Capital Management LLC bought a new stake in shares of Annexon during the 3rd quarter valued at $8,484,000. Walleye Capital LLC purchased a new stake in Annexon in the 3rd quarter worth $1,946,000. MetLife Investment Management LLC raised its holdings in Annexon by 11.8% during the third quarter. MetLife Investment Management LLC now owns 55,212 shares of the company’s stock valued at $327,000 after acquiring an additional 5,814 shares during the period. FMR LLC lifted 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Annexon by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock worth $945,000 after purchasing an additional 2,450 shares in the last quarter.

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.