Annexon (NASDAQ:ANNX) Stock Price Up 11.9%

Annexon, Inc. (NASDAQ:ANNX) shares were up 11.9% during trading on Wednesday . The company traded as high as $6.11 and last traded at $6.11. Approximately 587,505 shares changed hands during trading, a decline of 73% from the average daily volume of 2,187,764 shares. The stock had previously closed at $5.46.

Analyst Ratings Changes

A number of research analysts have recently commented on ANNX shares. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Tuesday, June 4th. JPMorgan Chase & Co. boosted their price target on shares of Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Wednesday, June 5th. Wells Fargo & Company reduced their price target on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Finally, Bank of America upped their target price on shares of Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $15.33.

Annexon Stock Down 6.5 %

The firm’s 50-day moving average is $5.10 and its 200-day moving average is $4.83. The company has a market capitalization of $519.34 million, a PE ratio of -3.82 and a beta of 1.30.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.11. As a group, equities research analysts predict that Annexon, Inc. will post -0.99 EPS for the current year.

Institutional Trading of Annexon

Hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted 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 worth $48,000 after purchasing an additional 2,949 shares during the last quarter. Comerica Bank bought a new stake in Annexon in the first quarter worth $72,000. Tower Research Capital LLC TRC raised its stake in shares of Annexon by 53.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after acquiring an additional 4,141 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Annexon during the first quarter valued at about $87,000. Finally, EntryPoint Capital LLC bought a new position in shares of Annexon during the first quarter valued at about $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.