Annexon (NASDAQ:ANNX – Free Report) had its price target reduced by Needham & Company LLC from $24.00 to $16.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.
A number of other research analysts have also weighed in on ANNX. Wells Fargo & Company initiated coverage on Annexon in a report on Monday, October 30th. They set an overweight rating and a $11.00 target price for the company. HC Wainwright restated a buy rating and issued a $30.00 target price on shares of Annexon in a research report on Tuesday, August 8th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $13.00 price objective on shares of Annexon in a research report on Tuesday, August 22nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $12.71.
Annexon Price Performance
Annexon (NASDAQ:ANNX – Get Free Report) last announced its quarterly earnings data on Monday, November 13th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.07. Research analysts expect that Annexon will post -1.98 EPS for the current fiscal year.
Hedge Funds Weigh In On Annexon
Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP increased its stake in shares of Annexon by 630.8% during the first quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock valued at $25,000 after buying an additional 8,200 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Annexon by 31.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock valued at $31,000 after buying an additional 1,903 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Annexon during the first quarter valued at approximately $41,000. Hsbc Holdings PLC purchased a new position in shares of Annexon during the third quarter valued at approximately $45,000. Finally, Bank of America Corp DE increased its stake in shares of Annexon by 29.7% during the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock valued at $46,000 after buying an additional 2,049 shares during the period.
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.
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