Annexon (NASDAQ:ANNX) Stock Price Down 3.9%

Shares of Annexon, Inc. (NASDAQ:ANNX - Get Free Report) traded down 3.9% during trading on Monday . The stock traded as low as $5.79 and last traded at $5.86. 1,267,972 shares were traded during mid-day trading, a decline of 37% from the average session volume of 2,024,453 shares. The stock had previously closed at $6.10.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of Annexon from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Wednesday, May 15th. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Annexon in a research note on Tuesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $16.00 target price on shares of Annexon in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Annexon in a research note on Wednesday, June 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $15.33.

Annexon Stock Performance

The company has a market cap of $552.63 million, a price-to-earnings ratio of -4.07 and a beta of 1.29. The stock's fifty day simple moving average is $5.52 and its two-hundred day simple moving average is $5.42.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.23). Analysts predict that Annexon, Inc. will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently made changes to their positions in ANNX. Ameritas Investment Partners Inc. lifted its holdings 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 acquiring an additional 2,949 shares in the last quarter. Sandia Investment Management LP acquired a new position in shares of Annexon during the 2nd quarter valued at $49,000. Victory Capital Management Inc. acquired a new position in shares of Annexon during the 2nd quarter valued at $51,000. Tower Research Capital LLC TRC lifted its holdings in shares of Annexon by 53.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company's stock valued at $54,000 after acquiring an additional 4,141 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Annexon during the 2nd quarter valued at $56,000.

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.