Analysts Set Annexon, Inc. (NASDAQ:ANNX) Price Target at $15.80

Shares of Annexon, Inc. (NASDAQ:ANNX) have received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $15.80.

ANNX has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annexon in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a report on Friday, November 15th.

Annexon Price Performance

Annexon stock opened at $2.83 on Friday. The stock’s 50 day moving average is $4.29 and its 200 day moving average is $5.57. Annexon has a one year low of $2.63 and a one year high of $8.40. The firm has a market cap of $301.65 million, a P/E ratio of -2.70 and a beta of 1.07.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Annexon by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company’s stock valued at $10,101,000 after purchasing an additional 235,810 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Annexon by 18.3% during the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company’s stock valued at $12,693,000 after buying an additional 331,269 shares during the last quarter. Barclays PLC increased its position in shares of Annexon by 212.0% during the third quarter. Barclays PLC now owns 177,765 shares of the company’s stock worth $1,052,000 after acquiring an additional 120,789 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Annexon by 221.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 732,216 shares of the company’s stock valued at $4,335,000 after acquiring an additional 504,656 shares in the last quarter. Finally, FMR LLC boosted its stake in Annexon by 3.2% during the 3rd quarter. FMR LLC now owns 8,561,949 shares of the company’s stock valued at $50,687,000 after purchasing an additional 262,229 shares during the last quarter.

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.