Annexon, Inc. (NASDAQ:ANNX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Annexon, Inc. (NASDAQ:ANNX) have earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $14.14.

A number of equities research analysts have recently commented on ANNX shares. Bank of America raised their price target on Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Wednesday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Monday, May 13th. JPMorgan Chase & Co. boosted their price target on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Tuesday, May 14th.

Annexon Price Performance

Shares of NASDAQ:ANNX opened at $4.70 on Friday. The stock has a market capitalization of $434.33 million, a price-to-earnings ratio of -3.20 and a beta of 1.29. The business’s fifty day moving average price is $5.48 and its two-hundred day moving average price is $4.51. Annexon has a fifty-two week low of $1.57 and a fifty-two week high of $8.40.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.11. Research analysts expect that Annexon will post -0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its stake in Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after purchasing an additional 2,949 shares during the period. Comerica Bank bought a new stake in Annexon in the 1st quarter valued at $72,000. Tower Research Capital LLC TRC boosted its stake in Annexon by 53.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after purchasing an additional 4,141 shares during the period. ProShare Advisors LLC bought a new stake in Annexon in the 1st quarter valued at $87,000. Finally, EntryPoint Capital LLC bought a new stake in Annexon in the 1st quarter valued at $98,000.

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.