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

Needham & Company LLC reiterated their buy rating on shares of Annexon (NASDAQ:ANNX) in a report issued on Friday,Benzinga reports. They currently have a $16.00 price target on the stock.

ANNX has been the topic of several other reports. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Annexon in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.80.

Annexon Price Performance

Shares of ANNX opened at $6.12 on Friday. The company has a 50-day simple moving average of $6.91 and a two-hundred day simple moving average of $5.92. The firm has a market capitalization of $646.58 million, a PE ratio of -5.83 and a beta of 1.23. Annexon has a one year low of $2.27 and a one year high of $8.40.

Insiders Place Their Bets

In other Annexon news, EVP Ted Yednock sold 5,408 shares of Annexon stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the completion of the transaction, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 20,908 shares of company stock valued at $135,768. 12.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Annexon

A number of institutional investors have recently made changes to their positions in ANNX. Bellevue Group AG bought a new position in Annexon in the 1st quarter valued at approximately $15,647,000. State Street Corp increased its holdings in Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock worth $22,744,000 after buying an additional 2,068,294 shares in the last quarter. Candriam S.C.A. bought a new position in Annexon during the 2nd quarter valued at about $10,061,000. Vanguard Group Inc. boosted its holdings in shares of Annexon by 96.4% during the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after acquiring an additional 1,839,329 shares during the last quarter. Finally, Sio Capital Management LLC bought a new stake in shares of Annexon in the third quarter worth approximately $8,484,000.

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.