Annexon’s (ANNX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $16.00 target price on the stock.

Several other research firms have also commented on ANNX. JPMorgan Chase & Co. increased their target price on shares of Annexon from $11.00 to $13.00 and gave the company an overweight rating in a research note on Monday, April 1st. Wells Fargo & Company increased their target price on shares of Annexon from $11.00 to $12.00 and gave the company an overweight rating in a research note on Wednesday, March 27th. Bank of America increased their target price on shares of Annexon from $7.00 to $10.00 and gave the company a buy rating in a research note on Thursday, March 28th. Cantor Fitzgerald reissued an overweight rating on shares of Annexon in a research note on Wednesday, April 3rd. Finally, HC Wainwright reissued a buy rating and set a $30.00 target price on shares of Annexon in a research note on Wednesday, March 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $14.43.

Annexon Trading Down 1.5 %

Shares of NASDAQ:ANNX opened at $5.98 on Thursday. The company has a 50 day moving average of $5.78 and a 200-day moving average of $4.00. The firm has a market cap of $538.38 million, a P/E ratio of -3.36 and a beta of 1.14. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40.

Insider Transactions at Annexon

In other news, CEO Douglas Love sold 5,782 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $5.54, for a total transaction of $32,032.28. Following the transaction, the chief executive officer now owns 196,121 shares in the company, valued at approximately $1,086,510.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 8,940 shares of company stock worth $49,514 in the last 90 days. 19.11% of the stock is owned by insiders.

Institutional Trading of Annexon

Several large investors have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC boosted its holdings in shares of Annexon by 41.4% during 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 stake in Annexon in the 4th quarter valued at $31,780,000. BlackRock Inc. boosted its holdings in Annexon by 199.7% in the 2nd quarter. BlackRock Inc. now owns 3,479,896 shares of the company’s stock valued at $12,249,000 after purchasing an additional 2,318,780 shares during the period. Federated Hermes Inc. boosted its holdings in Annexon by 50.7% in the 1st quarter. Federated Hermes Inc. now owns 3,052,651 shares of the company’s stock valued at $8,334,000 after purchasing an additional 1,027,051 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Annexon by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,908,326 shares of the company’s stock valued at $8,664,000 after purchasing an additional 13,917 shares during the period.

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.