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

Needham & Company LLC reiterated their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note issued to investors on Friday,Benzinga reports. They currently have a $16.00 price objective on the stock.

Several other equities research analysts have also issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Annexon in a research report on Friday. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Price Performance

Shares of Annexon stock opened at $5.46 on Friday. Annexon has a 1 year low of $2.27 and a 1 year high of $8.40. The firm has a market cap of $576.87 million, a PE ratio of -5.20 and a beta of 1.23. The company has a 50 day simple moving average of $6.91 and a two-hundred day simple moving average of $5.93.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,500 shares of Annexon stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $56,400. The trade was a 35.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 20,908 shares of company stock valued at $135,768 over the last three months. 12.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Annexon by 10,482.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock valued at $9,492,000 after purchasing an additional 1,311,195 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Annexon by 96.4% during the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after buying an additional 1,839,329 shares in the last quarter. Point72 Europe London LLP bought a new stake in shares of Annexon during the 2nd quarter valued at $1,150,000. Point72 Asset Management L.P. boosted its holdings in shares of Annexon by 16.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after buying an additional 832,617 shares in the last quarter. Finally, Bellevue Group AG bought a new stake in shares of Annexon during the 1st quarter valued at $15,647,000.

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.