Annexon (NASDAQ:ANNX) Sees Strong Trading Volume

Shares of Annexon, Inc. (NASDAQ:ANNXGet Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,486,074 shares traded hands during trading, a decline of 26% from the previous session’s volume of 1,999,839 shares.The stock last traded at $5.91 and had previously closed at $5.99.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Annexon in a report on Tuesday. Bank of America raised their target price on Annexon from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Tuesday. Wells Fargo & Company cut their price objective on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. boosted 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.33.

Get Our Latest Report on ANNX

Annexon Stock Down 13.3 %

The company has a 50 day moving average price of $5.18 and a 200-day moving average price of $4.72. The company has a market cap of $544.29 million, a P/E ratio of -4.01 and a beta of 1.30.

Annexon (NASDAQ:ANNXGet Free Report) last announced its earnings results on Monday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. On average, research analysts expect that Annexon, Inc. will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its holdings in shares of Annexon by 78.2% in the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock valued at $48,000 after buying an additional 2,949 shares during the period. SG Americas Securities LLC grew its stake in shares of Annexon by 14.1% in the 4th quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock worth $115,000 after purchasing an additional 3,123 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Annexon by 53.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after purchasing an additional 4,141 shares in the last quarter. Silverarc Capital Management LLC lifted its stake in Annexon by 2.5% during the third quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock valued at $943,000 after purchasing an additional 9,805 shares during the last quarter. Finally, Comerica Bank bought a new stake in Annexon during the first quarter worth approximately $72,000.

About Annexon

(Get Free Report)

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.

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