Cantor Fitzgerald Lowers Annexon (NASDAQ:ANNX) Price Target to $18.00

Annexon (NASDAQ:ANNX – Get Rating) had its price target reduced by Cantor Fitzgerald from $22.00 to $18.00 in a research report report published on Tuesday morning, The Fly reports.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reiterated a buy rating and set a $24.00 price target on shares of Annexon in a report on Tuesday, March 7th. HC Wainwright reiterated a buy rating and set a $30.00 price target on shares of Annexon in a report on Tuesday, March 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $19.80.

Annexon Price Performance

NASDAQ:ANNX opened at $4.49 on Tuesday. Annexon has a fifty-two week low of $2.06 and a fifty-two week high of $7.65. The stock’s 50-day moving average is $5.96 and its two-hundred day moving average is $5.75. The stock has a market cap of $226.70 million, a PE ratio of -1.56 and a beta of 0.53.

Annexon (NASDAQ:ANNX – Get Rating) last announced its quarterly earnings results on Monday, March 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.05. On average, equities research analysts anticipate that Annexon will post -2.14 earnings per share for the current year.

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Annexon by 23.9% during the first quarter. JPMorgan Chase & Co. now owns 91,090 shares of the company’s stock worth $249,000 after buying an additional 17,550 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Annexon during the first quarter worth approximately $388,000. Vanguard Group Inc. lifted its holdings in shares of Annexon by 1.8% during the first quarter. Vanguard Group Inc. now owns 1,095,032 shares of the company’s stock worth $2,990,000 after buying an additional 19,722 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Annexon by 50.7% during the first quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company’s stock worth $8,334,000 after buying an additional 1,027,051 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Annexon during the first quarter worth approximately $100,000.

About Annexon

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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.