Annexon (NASDAQ:ANNX) Price Target Raised to $12.00 at Wells Fargo & Company

Annexon (NASDAQ:ANNX) had its price objective lifted by Wells Fargo & Company from $11.00 to $12.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Annexon from a neutral rating to an overweight rating and set a $11.00 price target for the company in a research report on Friday, March 1st. Bank of America raised shares of Annexon from a neutral rating to a buy rating and boosted their target price for the company from $4.00 to $6.00 in a research note on Thursday, December 21st. HC Wainwright reaffirmed a buy rating and set a $30.00 price target on shares of Annexon in a report on Wednesday. Finally, Needham & Company LLC reiterated a buy rating and set a $16.00 price objective on shares of Annexon in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $13.57.

Annexon Price Performance

NASDAQ:ANNX opened at $7.81 on Wednesday. Annexon has a 12-month low of $1.57 and a 12-month high of $8.40. The business has a 50 day simple moving average of $5.29 and a 200 day simple moving average of $3.65. The firm has a market capitalization of $415.80 million, a P/E ratio of -4.11 and a beta of 1.10.

Insider Activity at Annexon

In other news, CEO Douglas Love sold 5,782 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the sale, the chief executive officer now directly owns 196,121 shares of the company’s stock, valued at approximately $1,086,510.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 8,940 shares of company stock worth $49,514 in the last 90 days. Corporate insiders own 19.11% of the company’s stock.

Hedge Funds Weigh In On Annexon

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Annexon by 23.9% during the first quarter. JPMorgan Chase & Co. now owns 91,090 shares of the company’s stock valued at $249,000 after buying an additional 17,550 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Annexon in the 1st quarter valued at about $388,000. Vanguard Group Inc. boosted its position in shares of Annexon by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 1,095,032 shares of the company’s stock valued at $2,990,000 after purchasing an additional 19,722 shares in the last quarter. Federated Hermes Inc. grew its stake 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 purchasing an additional 1,027,051 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Annexon in the 1st quarter worth approximately $100,000.

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.