Annexon (NASDAQ:ANNX) Rating Reiterated by Needham & Company LLC

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

A number of other brokerages have also recently commented on ANNX. Bank of America raised Annexon from a neutral rating to a buy rating and upped their price target for the company from $4.00 to $6.00 in a research report on Thursday, December 21st. JPMorgan Chase & Co. upgraded Annexon from a neutral rating to an overweight rating and set a $11.00 target price on the stock in a research note on Friday, March 1st. Finally, HC Wainwright restated a buy rating and issued a $30.00 target price on shares of Annexon in a research note on Monday, March 4th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $14.14.

Annexon Price Performance

Shares of NASDAQ ANNX opened at $7.17 on Wednesday. Annexon has a one year low of $1.57 and a one year high of $8.40. The business’s fifty day moving average price is $5.40 and its 200-day moving average price is $3.71. The stock has a market capitalization of $381.73 million, a PE ratio of -4.03 and a beta of 1.10.

Insider Activity at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the completion of the sale, the chief executive officer now directly owns 196,121 shares in the company, valued at approximately $1,086,510.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 8,940 shares of company stock worth $49,514 in the last ninety days. 19.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annexon

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC lifted its holdings in Annexon by 41.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after buying an additional 2,359,793 shares during the period. BVF Inc. IL bought a new position in shares of Annexon in the 4th quarter worth approximately $31,780,000. BlackRock Inc. raised its position in shares of Annexon by 199.7% in the 2nd quarter. BlackRock Inc. now owns 3,479,896 shares of the company’s stock worth $12,249,000 after acquiring an additional 2,318,780 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Annexon by 50.7% in the 1st quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company’s stock worth $8,334,000 after acquiring an additional 1,027,051 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Annexon by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 1,908,326 shares of the company’s stock valued at $8,664,000 after buying an additional 13,917 shares in the last quarter.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.