Annexon (NASDAQ:ANNX) Given Buy Rating at HC Wainwright

Key Points

• HC Wainwright has restated its "buy" rating for Annexon (NASDAQ:ANNX) with a price target of $14.00, indicating a potential upside of 488.24% from the stock's previous close.
• However, Needham & Company has lowered its target price for Annexon from $16.00 to $11.00, while also maintaining a "buy" rating.
• Shares of Annexon recently opened at $2.38, reflecting a decline of 8.5% in the stock price.

Annexon (NASDAQ:ANNX - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $14.00 price objective on the stock.

Separately, Needham & Company LLC reduced their price objective on shares of Annexon from $16.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

Annexon Trading Down 2.1%

NASDAQ:ANNX traded down $0.0450 during midday trading on Friday, reaching $2.1450. The company had a trading volume of 268,618 shares, compared to its average volume of 1,553,281. The firm has a market capitalization of $235.34 million, a price-to-earnings ratio of -1.65 and a beta of 1.30. The stock's fifty day simple moving average is $2.49 and its 200-day simple moving average is $2.34. Annexon has a 12-month low of $1.28 and a 12-month high of $7.85.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.36) by $0.02. As a group, sell-side analysts expect that Annexon will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Engineers Gate Manager LP acquired a new position in Annexon in the second quarter valued at $32,000. Bridgeway Capital Management LLC acquired a new position in Annexon during the second quarter worth about $235,000. Bank of America Corp DE grew its position in shares of Annexon by 39.9% in the second quarter. Bank of America Corp DE now owns 1,452,795 shares of the company's stock valued at $3,487,000 after purchasing an additional 414,071 shares during the last quarter. Jane Street Group LLC grew its position in shares of Annexon by 46.0% in the second quarter. Jane Street Group LLC now owns 145,869 shares of the company's stock valued at $350,000 after purchasing an additional 45,945 shares during the last quarter. Finally, TFG Asset Management GP Ltd boosted its position in Annexon by 6.0% during the second quarter. TFG Asset Management GP Ltd now owns 2,810,000 shares of the company's stock worth $6,744,000 after acquiring an additional 160,000 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.