Annexon, Inc. (NASDAQ:ANNX) Short Interest Up 15.3% in April

Annexon, Inc. (NASDAQ:ANNX - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 4,140,000 shares, an increase of 15.3% from the March 31st total of 3,590,000 shares. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Annexon in a research note on Wednesday, April 24th. JPMorgan Chase & Co. boosted their price objective on Annexon from $11.00 to $13.00 and gave the stock an "overweight" rating in a research report on Monday, April 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $16.00 target price on shares of Annexon in a research note on Thursday, April 11th. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Annexon in a research note on Wednesday, March 27th. Finally, Bank of America raised their price target on Annexon from $7.00 to $10.00 and gave the company a "buy" rating in a report on Thursday, March 28th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Annexon has a consensus rating of "Buy" and an average price target of $14.43.

Insider Buying and Selling at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the sale, the chief executive officer now owns 196,121 shares of the company's stock, valued at approximately $1,086,510.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 8,940 shares of company stock worth $49,514 over the last ninety days. Company insiders own 19.11% of the company's stock.

Hedge Funds Weigh In On Annexon

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Annexon during the fourth quarter worth approximately $221,000. BVF Inc. IL bought a new stake in shares of Annexon during the 4th quarter worth $31,780,000. Lighthouse Investment Partners LLC acquired a new position in shares of Annexon in the 4th quarter worth $306,000. Bain Capital Life Sciences Investors LLC raised its position in shares of Annexon by 41.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company's stock worth $36,600,000 after purchasing an additional 2,359,793 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Annexon by 53.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company's stock worth $54,000 after purchasing an additional 4,141 shares during the period.

Annexon Stock Performance

NASDAQ ANNX remained flat at $4.70 on Monday. The company's stock had a trading volume of 1,627,200 shares, compared to its average volume of 1,527,537. Annexon has a 52-week low of $1.57 and a 52-week high of $8.40. The company has a market capitalization of $428.36 million, a P/E ratio of -2.64 and a beta of 1.14. The stock's 50 day moving average price is $5.66 and its two-hundred day moving average price is $4.20.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its earnings results on Tuesday, March 26th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. Research analysts predict that Annexon will post -1.36 earnings per share for the current fiscal year.

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.