Annexon (NASDAQ:ANNX) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Annexon (NASDAQ:ANNX - Free Report) in a report issued on Friday,Benzinga reports. Needham & Company LLC currently has a $16.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a report on Monday, September 9th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Annexon in a report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, Annexon has an average rating of "Buy" and a consensus target price of $15.80.

Annexon Price Performance

NASDAQ ANNX traded down $0.21 during trading on Friday, reaching $6.12. 1,916,713 shares of the company's stock traded hands, compared to its average volume of 1,819,268. The firm has a market cap of $646.58 million, a price-to-earnings ratio of -5.05 and a beta of 1.23. The company's 50 day simple moving average is $6.89 and its two-hundred day simple moving average is $5.90. Annexon has a 12-month low of $2.27 and a 12-month high of $8.40.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.23). Research analysts expect that Annexon will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Ted Yednock sold 5,408 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares of the company's stock, valued at $528,814.65. This represents a 7.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders sold 20,908 shares of company stock valued at $135,768. Insiders own 12.67% of the company's stock.

Hedge Funds Weigh In On Annexon

Several hedge funds have recently bought and sold shares of the company. Bain Capital Life Sciences Investors LLC grew its holdings 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 valued at $62,402,000 after purchasing an additional 641,549 shares during the period. FMR LLC grew its stake in shares of 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 buying an additional 262,229 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Annexon by 16.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company's stock worth $29,346,000 after buying an additional 832,617 shares during the last quarter. State Street Corp raised its position in shares of Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company's stock worth $22,744,000 after buying an additional 2,068,294 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Annexon by 96.4% in the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company's stock valued at $26,871,000 after acquiring an additional 1,839,329 shares during the last quarter.

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.