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

Needham & Company LLC restated their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note released on Wednesday morning, Benzinga reports. They currently have a $16.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reiterated a buy rating and set a $30.00 price objective on shares of Annexon in a research note on Monday, March 4th. Bank of America upgraded shares of Annexon from a neutral rating to a buy rating and boosted their price objective for the stock from $4.00 to $6.00 in a research note on Thursday, December 21st. Finally, JPMorgan Chase & Co. raised shares of Annexon from a neutral rating to an overweight rating and set a $11.00 target price on the stock in a research report on Friday, March 1st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $14.14.

Annexon Price Performance

Shares of NASDAQ ANNX opened at $7.17 on Wednesday. Annexon has a 12 month low of $1.57 and a 12 month high of $8.40. The company has a 50-day simple moving average of $5.40 and a 200-day simple moving average of $3.71. The company has a market cap of $381.73 million, a PE ratio of -4.03 and a beta of 1.10.

Insider Activity at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the sale, the chief executive officer now directly owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 8,940 shares of company stock valued at $49,514 over the last ninety days. Corporate insiders own 19.11% of the company’s stock.

Institutional Trading of Annexon

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP raised its holdings in shares of Annexon by 630.8% during the first quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock worth $25,000 after purchasing an additional 8,200 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Annexon by 31.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after acquiring an additional 1,903 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Annexon during the first quarter worth about $41,000. Hsbc Holdings PLC bought a new position in shares of Annexon during the third quarter worth about $45,000. Finally, Bank of America Corp DE grew its position in shares of Annexon by 29.7% during the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock worth $46,000 after acquiring an additional 2,049 shares during the last quarter.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.