Annexon (NASDAQ:ANNX) Price Target Cut to $7.00 by Analysts at BTIG Research

Annexon (NASDAQ:ANNX – Get Rating) had its target price cut by BTIG Research from $15.00 to $7.00 in a research report sent to investors on Thursday, The Fly reports.

A number of other brokerages have also recently commented on ANNX. Needham & Company LLC reaffirmed a buy rating and set a $24.00 price target on shares of Annexon in a research report on Wednesday, April 19th. HC Wainwright reaffirmed a buy rating and issued a $30.00 price target on shares of Annexon in a report on Tuesday, March 7th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Annexon in a report on Monday, May 15th. Finally, JPMorgan Chase & Co. cut Annexon from an overweight rating to a neutral rating and reduced their price target for the stock from $19.00 to $9.00 in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $16.67.

Annexon Price Performance

Shares of ANNX stock opened at $2.10 on Thursday. The stock’s fifty day moving average price is $4.89 and its 200 day moving average price is $5.43. Annexon has a 1-year low of $2.07 and a 1-year high of $7.65. The company has a market cap of $111.48 million, a price-to-earnings ratio of -0.85 and a beta of 0.48.

Annexon (NASDAQ:ANNX – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The company reported ($0.52) EPS for the quarter, hitting analysts’ consensus estimates of ($0.52). As a group, equities research analysts anticipate that Annexon will post -2.11 earnings per share for the current year.

Institutional Investors Weigh In On Annexon

Large investors have recently bought and sold shares of the company. Quantbot Technologies LP increased its stake in Annexon by 630.8% during the 1st quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock worth $25,000 after buying an additional 8,200 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Annexon by 31.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after buying an additional 1,903 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Annexon during the 1st quarter worth approximately $41,000. Bank of America Corp DE increased its stake in Annexon by 29.7% during the 4th quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock worth $46,000 after buying an additional 2,049 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Annexon during the 1st quarter worth approximately $46,000.

Annexon Company Profile

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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.