Brokerages Set Annexon, Inc. (NASDAQ:ANNX) Target Price at $15.33

Shares of Annexon, Inc. (NASDAQ:ANNX) have received a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have covered the stock in the last year is $15.33.

A number of brokerages have issued reports on ANNX. Cantor Fitzgerald reissued an “overweight” rating on shares of Annexon in a research note on Wednesday, June 5th. JPMorgan Chase & Co. boosted their target price on shares of Annexon from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Wells Fargo & Company cut their price target on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Annexon in a research note on Tuesday, June 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a research report on Tuesday, June 4th.

Hedge Funds Weigh In On Annexon

A number of hedge funds have recently made changes to their positions in the business. Comerica Bank acquired a new stake in Annexon in the 1st quarter valued at $72,000. Bain Capital Life Sciences Investors LLC grew its stake in shares of Annexon by 8.0% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock valued at $62,402,000 after buying an additional 641,549 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Annexon during the 1st quarter valued at about $119,000. Bellevue Group AG acquired a new position in Annexon during the 1st quarter worth approximately $15,647,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Annexon by 10,482.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,323,704 shares of the company’s stock worth $9,492,000 after acquiring an additional 1,311,195 shares during the period.

Annexon Stock Performance

Shares of ANNX opened at $5.36 on Tuesday. Annexon has a 1 year low of $1.57 and a 1 year high of $8.40. The company’s 50 day simple moving average is $5.07 and its 200 day simple moving average is $4.90. The company has a market capitalization of $495.33 million, a price-to-earnings ratio of -3.65 and a beta of 1.30.

Annexon (NASDAQ:ANNX) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.11. Equities analysts expect that Annexon will post -0.98 EPS for the current fiscal year.

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.