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

Needham & Company LLC reissued their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note published on Tuesday,Benzinga reports. They currently have a $16.00 target price on the stock.

Several other equities analysts have also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon presently has an average rating of “Buy” and an average price target of $15.80.

Annexon Trading Down 2.9 %

Shares of ANNX opened at $2.68 on Tuesday. The firm has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $5.38. The firm has a market cap of $285.67 million, a PE ratio of -2.55 and a beta of 1.14. Annexon has a 1-year low of $2.30 and a 1-year high of $8.40.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). As a group, research analysts forecast that Annexon will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ANNX. BNP Paribas Financial Markets purchased a new stake in Annexon in the 4th quarter worth approximately $59,000. CANADA LIFE ASSURANCE Co bought a new stake in Annexon during the fourth quarter valued at about $77,000. E Fund Management Co. Ltd. lifted its position in shares of Annexon by 36.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 15,447 shares of the company’s stock valued at $79,000 after acquiring an additional 4,086 shares in the last quarter. Forefront Analytics LLC boosted its stake in shares of Annexon by 56.8% in the fourth quarter. Forefront Analytics LLC now owns 16,433 shares of the company’s stock worth $84,000 after acquiring an additional 5,950 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Annexon during the fourth quarter worth 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.