Annexon’s (ANNX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Annexon (NASDAQ:ANNX) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $16.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a report on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.80.

Annexon Stock Down 2.9 %

NASDAQ ANNX opened at $2.68 on Tuesday. The firm has a market capitalization of $285.67 million, a PE ratio of -2.55 and a beta of 1.14. The stock’s 50 day moving average is $3.85 and its 200 day moving average is $5.38. Annexon has a twelve month low of $2.30 and a twelve month high of $8.40.

Annexon (NASDAQ:ANNX) last announced its earnings results on Monday, March 3rd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). On average, research analysts anticipate that Annexon will post -0.96 earnings per share for the current year.

Institutional Trading of Annexon

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Annexon by 116.6% during the third quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after buying an additional 2,068,294 shares during the last quarter. Sio Capital Management LLC bought a new position in Annexon in the 3rd quarter valued at approximately $8,484,000. Sphera Funds Management LTD. purchased a new stake in Annexon during the 4th quarter valued at $6,377,000. Ameriprise Financial Inc. increased its holdings in shares of Annexon by 483.6% in the 4th quarter. Ameriprise Financial Inc. now owns 926,642 shares of the company’s stock worth $4,754,000 after purchasing an additional 767,869 shares in the last quarter. Finally, TFG Asset Management GP Ltd raised its stake in shares of Annexon by 78.5% in the fourth quarter. TFG Asset Management GP Ltd now owns 1,400,000 shares of the company’s stock worth $7,182,000 after purchasing an additional 615,645 shares during the last quarter.

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.