Needham & Company LLC Reaffirms Buy Rating for Annexon (NASDAQ:ANNX)

Needham & Company LLC reissued their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note published on Friday,Benzinga reports. The firm currently has a $16.00 price target on the stock.

A number of other brokerages have also recently commented on ANNX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annexon in a report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, Annexon currently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Stock Performance

Shares of NASDAQ:ANNX opened at $6.12 on Friday. Annexon has a 52-week low of $2.27 and a 52-week high of $8.40. The stock has a market capitalization of $646.58 million, a price-to-earnings ratio of -5.83 and a beta of 1.23. The stock’s 50-day simple moving average is $6.91 and its two-hundred day simple moving average is $5.92.

Insider Buying and Selling at Annexon

In related news, EVP Ted Yednock sold 5,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.64, for a total value of $31,020.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $56,400. This trade represents a 35.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 20,908 shares of company stock worth $135,768. Insiders own 12.67% of the company’s stock.

Hedge Funds Weigh In On Annexon

Institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its position in shares of Annexon by 78.2% during 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 in the last quarter. Sandia Investment Management LP bought a new stake in shares of Annexon in the 2nd quarter valued at approximately $49,000. Victory Capital Management Inc. purchased a new position in shares of Annexon in the 2nd quarter worth approximately $51,000. Principal Financial Group Inc. bought a new position in shares of Annexon during the 2nd quarter valued at approximately $56,000. Finally, Comerica Bank purchased a new stake in Annexon during the 1st quarter valued at $72,000.

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.