Annexon (NASDAQ:ANNX) Given “Buy” Rating at Needham & Company LLC

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

ANNX has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Annexon in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $15.80.

Annexon Trading Down 3.4 %

Shares of NASDAQ ANNX opened at $6.33 on Friday. The firm has a market cap of $668.76 million, a P/E 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’s 50 day moving average is $6.89 and its 200-day moving average is $5.90.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). Analysts forecast that Annexon will post -0.97 EPS for the current year.

Insider Transactions at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the transaction, the executive vice president now owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. The trade was a 7.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 20,908 shares of company stock valued at $135,768 over the last three months. Company insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bain Capital Life Sciences Investors LLC grew its position in Annexon by 8.0% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock worth $62,402,000 after acquiring an additional 641,549 shares in the last quarter. FMR LLC raised its position in Annexon by 3.2% during the 3rd quarter. FMR LLC now owns 8,561,949 shares of the company’s stock valued at $50,687,000 after purchasing an additional 262,229 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Annexon by 16.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock worth $29,346,000 after buying an additional 832,617 shares during the period. Vanguard Group Inc. grew its position in shares of Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock worth $26,871,000 after buying an additional 1,839,329 shares during the last quarter. Finally, Bellevue Group AG purchased a new position in shares of Annexon during the first quarter valued at approximately $15,647,000.

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.