Annexon (NASDAQ:ANNX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $16.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Annexon in a research note on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.80.

Annexon Price Performance

Shares of Annexon stock opened at $5.46 on Friday. The stock has a market cap of $576.87 million, a price-to-earnings ratio of -5.20 and a beta of 1.23. The firm’s 50-day moving average is $6.91 and its 200 day moving average is $5.93. Annexon has a 1 year low of $2.27 and a 1 year high of $8.40.

Insider Buying and Selling at Annexon

In other news, EVP Ted Yednock sold 5,408 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the sale, the executive vice president now owns 71,365 shares of the company’s stock, valued at $528,814.65. This represents a 7.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 20,908 shares of company stock worth $135,768. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after acquiring an additional 2,949 shares in the last quarter. Comerica Bank purchased a new stake in Annexon during the 1st quarter valued at approximately $72,000. Sandia Investment Management LP purchased a new stake in Annexon during the 2nd quarter valued at approximately $49,000. Victory Capital Management Inc. purchased a new stake in Annexon during the 2nd quarter valued at approximately $51,000. Finally, Principal Financial Group Inc. purchased a new stake in Annexon during the 2nd quarter valued at approximately $56,000.

Annexon Company Profile

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.