Annexon (NASDAQ:ANNX) Shares Gap Down to $6.11

Annexon, Inc. (NASDAQ:ANNX)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $6.11, but opened at $5.93. Annexon shares last traded at $6.02, with a volume of 26,184 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on ANNX. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Annexon in a report on Tuesday, August 13th. Wells Fargo & Company dropped their target price on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a report on Wednesday, June 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Annexon in a report on Tuesday, August 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Annexon presently has a consensus rating of “Buy” and a consensus price target of $15.80.

Annexon Stock Performance

The stock’s fifty day moving average is $5.58 and its two-hundred day moving average is $5.46. The firm has a market cap of $548.93 million, a price-to-earnings ratio of -4.04 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.23). Sell-side analysts predict that Annexon, Inc. will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bain Capital Life Sciences Investors LLC lifted its position in Annexon by 8.0% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock worth $62,402,000 after purchasing an additional 641,549 shares during the period. BVF Inc. IL bought a new stake in shares of Annexon in the 4th quarter worth $31,780,000. Point72 Asset Management L.P. lifted its holdings in shares of Annexon by 16.1% in the second quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after buying an additional 832,617 shares during the period. Vanguard Group Inc. boosted its stake in Annexon by 96.4% during the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after buying an additional 1,839,329 shares in the last quarter. Finally, Bellevue Group AG acquired a new position in Annexon during the first quarter worth about $15,647,000.

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.