Annexon (NASDAQ:ANNX) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Annexon (NASDAQ:ANNX) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

A number of other research firms have also weighed in on ANNX. Wells Fargo & Company cut their target price on shares of Annexon from $12.00 to $10.00 and set an overweight rating on the stock in a research note on Wednesday, May 15th. Cantor Fitzgerald restated an overweight rating on shares of Annexon in a research note on Wednesday, June 5th. Finally, HC Wainwright restated a buy rating and set a $30.00 target price on shares of Annexon in a research note on Tuesday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon currently has an average rating of Buy and a consensus price target of $15.33.

Annexon Stock Performance

ANNX stock opened at $6.10 on Tuesday. The company’s 50 day moving average price is $5.50 and its 200 day moving average price is $5.38. Annexon has a fifty-two week low of $1.57 and a fifty-two week high of $8.40. The firm has a market capitalization of $563.72 million, a price-to-earnings ratio of -4.07 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last released its earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.23). Equities analysts forecast that Annexon will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Annexon

Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its stake in Annexon by 78.2% in the first 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 last quarter. Comerica Bank purchased a new position in Annexon in the first quarter valued at approximately $72,000. Sandia Investment Management LP purchased a new position in Annexon in the second quarter valued at approximately $49,000. Victory Capital Management Inc. purchased a new position in Annexon in the second quarter valued at approximately $51,000. Finally, Principal Financial Group Inc. purchased a new position in Annexon in the second quarter valued at approximately $56,000.

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.