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

Annexon (NASDAQ:ANNX)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 161.44% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Annexon in a report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $15.80.

Annexon Trading Down 3.3 %

Shares of Annexon stock opened at $6.12 on Friday. Annexon has a 12-month low of $2.27 and a 12-month high of $8.40. The company has a market cap of $646.58 million, a P/E ratio of -4.98 and a beta of 1.23. The company’s fifty day simple moving average is $6.91 and its two-hundred day simple moving average is $5.92.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $5.95, for a total value of $32,725.00. Following the sale, the executive vice president now owns 15,500 shares in the company, valued at $92,225. This represents a 26.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 20,908 shares of company stock valued at $135,768 in the last three months. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Several hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its position in shares of 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 purchasing an additional 2,949 shares during the last quarter. Sandia Investment Management LP bought a new position in shares of Annexon in the second quarter worth approximately $49,000. Victory Capital Management Inc. bought a new position in shares of Annexon in the second quarter worth approximately $51,000. Principal Financial Group Inc. purchased a new stake in shares of Annexon during the second quarter valued at approximately $56,000. Finally, Comerica Bank bought a new stake in shares of Annexon during the first quarter valued at approximately $72,000.

About Annexon

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.