Annexon, Inc. (NASDAQ:ANNX) Receives $15.80 Consensus Price Target from Analysts

Annexon, Inc. (NASDAQ:ANNX) has been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.80.

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

Annexon Price Performance

Shares of Annexon stock opened at $4.13 on Wednesday. The firm’s fifty day simple moving average is $4.95 and its 200-day simple moving average is $5.90. Annexon has a 12 month low of $3.86 and a 12 month high of $8.40. The stock has a market capitalization of $440.22 million, a price-to-earnings ratio of -3.93 and a beta of 1.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ANNX. China Universal Asset Management Co. Ltd. purchased a new position in Annexon in the 4th quarter worth approximately $116,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Annexon by 65.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 429,584 shares of the company’s stock valued at $2,204,000 after purchasing an additional 170,180 shares during the period. JPMorgan Chase & Co. grew its holdings in Annexon by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company’s stock valued at $10,101,000 after purchasing an additional 235,810 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Annexon during the 3rd quarter worth $292,000. Finally, Barclays PLC lifted its holdings in Annexon by 212.0% in the 3rd quarter. Barclays PLC now owns 177,765 shares of the company’s stock worth $1,052,000 after buying an additional 120,789 shares in the last quarter.

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.