Short Interest in Annexon, Inc. (NASDAQ:ANNX) Increases By 27.4%

Annexon, Inc. (NASDAQ:ANNX) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 5,160,000 shares, a growth of 27.4% from the June 15th total of 4,050,000 shares. Based on an average daily trading volume, of 2,820,000 shares, the short-interest ratio is presently 1.8 days.

Annexon Trading Up 11.2 %

Shares of Annexon stock opened at $6.08 on Monday. The company’s 50-day moving average price is $5.05 and its 200-day moving average price is $5.16. Annexon has a 12-month low of $1.57 and a 12-month high of $8.40. The company has a market cap of $561.85 million, a price-to-earnings ratio of -4.14 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.11. On average, sell-side analysts predict that Annexon will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its holdings 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 valued at $48,000 after acquiring an additional 2,949 shares in the last quarter. Comerica Bank purchased a new stake in Annexon in the first quarter valued at approximately $72,000. Tower Research Capital LLC TRC lifted its position in Annexon by 53.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after purchasing an additional 4,141 shares during the last quarter. ProShare Advisors LLC purchased a new position in Annexon in the 1st quarter worth approximately $87,000. Finally, EntryPoint Capital LLC bought a new position in shares of Annexon in the 1st quarter worth $98,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ANNX. Wells Fargo & Company reduced their target price on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Tuesday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price objective on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Annexon in a report on Tuesday, June 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $15.33.

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.