Annexon (NASDAQ:ANNX) Stock Price Target Raised at JPMorgan Chase & Co.

Annexon (NASDAQ:ANNX) had its price target boosted by research analysts at JPMorgan Chase & Co. from $14.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 254.19% from the company’s previous close.

A number of other analysts have also recently commented on ANNX. Needham & Company LLC boosted their price objective on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. Citizens Jmp raised Annexon from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 13th. Wall Street Zen downgraded Annexon from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Citigroup started coverage on shares of Annexon in a report on Tuesday, July 21st. They issued a “market underperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Annexon currently has an average rating of “Hold” and a consensus target price of $15.29.

Annexon Stock Performance

Annexon stock traded up $0.10 during trading hours on Wednesday, hitting $4.24. The company had a trading volume of 2,205,390 shares, compared to its average volume of 2,952,693. The firm has a market cap of $802.87 million, a P/E ratio of -3.64 and a beta of 1.21. The company has a 50-day moving average price of $4.81 and a two-hundred day moving average price of $5.28. Annexon has a 1 year low of $2.54 and a 1 year high of $7.18.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). As a group, equities research analysts anticipate that Annexon will post -1.04 EPS for the current year.

Insider Transactions at Annexon

In other Annexon news, CEO Douglas Love purchased 26,065 shares of Annexon stock in a transaction dated Thursday, September 24th. The stock was acquired at an average cost of $3.83 per share, with a total value of $99,828.95. Following the acquisition, the chief executive officer directly owned 390,476 shares of the company’s stock, valued at $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Annexon

Several institutional investors and hedge funds have recently modified their holdings of ANNX. WINTON GROUP Ltd boosted its stake in Annexon by 98.3% in the 2nd quarter. WINTON GROUP Ltd now owns 47,800 shares of the company’s stock worth $273,000 after buying an additional 23,700 shares during the last quarter. Engineers Gate Manager LP increased its holdings in shares of Annexon by 83.2% during the second quarter. Engineers Gate Manager LP now owns 319,057 shares of the company’s stock valued at $1,822,000 after purchasing an additional 144,916 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Annexon by 32.3% in the second quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock valued at $77,000 after acquiring an additional 3,305 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Annexon by 155.0% during the second quarter. Squarepoint Ops LLC now owns 173,285 shares of the company’s stock worth $989,000 after acquiring an additional 105,329 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Annexon in the 2nd quarter valued at $310,000.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company’s approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon’s lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.