Annexon, Inc. (NASDAQ:ANNX) Given Consensus Recommendation of “Buy” by Brokerages

Annexon, Inc. (NASDAQ:ANNX) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.33.

ANNX has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Annexon in a research report on Tuesday, June 4th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Tuesday, June 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research report on Wednesday, June 5th. Finally, 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.

Institutional Investors Weigh In On Annexon

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. Ameritas Investment Partners Inc. increased its stake in Annexon by 78.2% in the 1st 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 last quarter. Victory Capital Management Inc. purchased a new stake in Annexon in the 2nd quarter valued at about $51,000. Tower Research Capital LLC TRC increased its stake in Annexon by 53.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after buying an additional 4,141 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Annexon during the 2nd quarter worth approximately $56,000. Finally, Comerica Bank purchased a new stake in shares of Annexon during the 1st quarter worth approximately $72,000.

Annexon Stock Up 4.8 %

NASDAQ ANNX opened at $5.67 on Wednesday. The company has a market capitalization of $523.98 million, a price-to-earnings ratio of -3.86 and a beta of 1.29. The stock has a fifty day simple moving average of $5.47 and a 200 day simple moving average of $5.34. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. Research analysts expect that Annexon will post -0.98 earnings per share for the current fiscal year.

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.