Hennion & Walsh Asset Management Inc. Boosts Position in Annexon, Inc. (NASDAQ:ANNX)

Hennion & Walsh Asset Management Inc. raised its stake in shares of Annexon, Inc. (NASDAQ:ANNX - Free Report) by 65.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 429,584 shares of the company's stock after acquiring an additional 170,180 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.40% of Annexon worth $2,204,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Sandia Investment Management LP purchased a new stake in shares of Annexon in the 2nd quarter valued at $49,000. Victory Capital Management Inc. acquired a new position in Annexon in the 2nd quarter valued at about $51,000. Quarry LP purchased a new stake in Annexon during the third quarter worth about $118,000. Intech Investment Management LLC acquired a new stake in shares of Annexon during the third quarter worth about $154,000. Finally, Maven Securities LTD acquired a new stake in shares of Annexon during the second quarter worth about $170,000.

Wall Street Analyst Weigh In

ANNX has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 target price on shares of Annexon in a research note on Friday, November 15th. Cantor Fitzgerald restated an "overweight" rating on shares of Annexon in a research note on Friday, November 15th. Finally, HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, December 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $15.80.

Annexon Stock Performance

Shares of NASDAQ:ANNX traded up $0.09 during trading hours on Friday, reaching $4.20. The stock had a trading volume of 1,668,139 shares, compared to its average volume of 1,248,989. Annexon, Inc. has a 1 year low of $3.86 and a 1 year high of $8.40. The firm's 50 day moving average is $5.18 and its 200-day moving average is $5.93. The stock has a market capitalization of $447.68 million, a price-to-earnings ratio of -4.00 and a beta of 1.11.

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.