Annexon, Inc. (NASDAQ:ANNX) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Annexon has a consensus “Hold” rating from 10 analysts: six recommend buying, two advise holding, and two recommend selling. The average 12-month price target is $15.14.
• Recent analyst views were mixed but generally improved, with JPMorgan and Needham raising their price targets to $14 and $25, respectively, while Citigroup initiated coverage with a “market underperform” rating.
• Annexon shares opened at $4.17, well below the analyst consensus target, while the company reported a quarterly loss of $0.28 per share versus the expected $0.24 loss.

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) has earned a consensus recommendation of "Hold" from the ten analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $15.1429.

ANNX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Annexon from $10.00 to $14.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 1st. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price target on shares of Annexon in a report on Monday, July 20th. Citizens Jmp upgraded shares of Annexon from an "underperform" rating to a "market perform" rating in a research note on Thursday, August 13th. Needham & Company LLC boosted their price objective on shares of Annexon from $11.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Finally, Citigroup began coverage on Annexon in a research note on Tuesday, July 21st. They issued a "market underperform" rating for the company.

Institutional Trading of Annexon

A number of hedge funds and other institutional investors have recently made changes to their positions in ANNX. Redmile Group LLC boosted its holdings in Annexon by 44.8% in the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company's stock valued at $80,606,000 after purchasing an additional 4,499,124 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Annexon in the 2nd quarter valued at about $77,312,000. BVF Inc. IL boosted its stake in shares of Annexon by 30.4% in the fourth quarter. BVF Inc. IL now owns 9,128,080 shares of the company's stock worth $45,823,000 after buying an additional 2,128,080 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Annexon by 165.3% in the first quarter. Bank of America Corp DE now owns 4,259,995 shares of the company's stock worth $23,600,000 after buying an additional 2,654,414 shares during the last quarter. Finally, Siren L.L.C. acquired a new stake in Annexon during the first quarter worth about $21,931,000.

Annexon Price Performance

Annexon stock opened at $4.17 on Friday. Annexon has a 1-year low of $2.52 and a 1-year high of $7.18. The business has a fifty day moving average price of $5.10 and a 200-day moving average price of $5.37. The stock has a market capitalization of $790.54 million, a price-to-earnings ratio of -3.59 and a beta of 1.21.

Annexon (NASDAQ:ANNX - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.04). On average, equities research analysts anticipate that Annexon will post -1.04 earnings per share for the current fiscal year.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for diseases driven by the classical complement pathway, an immune system mechanism that can contribute to inflammation and the destruction of healthy cells. The company's approach is designed to selectively inhibit complement activity while preserving other potentially beneficial immune functions.

Annexon's lead programs include ANX005, an investigational monoclonal antibody that targets C1q and is being evaluated in immune-mediated and neuroinflammatory conditions, including Guillain-Barré syndrome.

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