Annexon, Inc. (NASDAQ:ANNX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Annexon, Inc. (NASDAQ:ANNX) have been assigned an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.33.

Several equities analysts recently issued reports on ANNX shares. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Wednesday, June 5th. Wells Fargo & Company lowered their target price on Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, May 15th. JPMorgan Chase & Co. increased their price target on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Annexon in a research note on Tuesday, June 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Annexon in a research report on Tuesday, June 4th.

Annexon Stock Down 0.2 %

Shares of NASDAQ:ANNX opened at $5.04 on Friday. The business has a fifty day simple moving average of $5.01 and a 200 day simple moving average of $5.14. Annexon has a 12-month low of $1.57 and a 12-month high of $8.40. The firm has a market cap of $465.76 million, a P/E ratio of -3.43 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.11. As a group, equities research analysts expect that Annexon will post -0.98 EPS for the current year.

Hedge Funds Weigh In On Annexon

Large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its holdings in Annexon by 78.2% during the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after buying an additional 2,949 shares during the last quarter. Comerica Bank bought a new stake in shares of Annexon during the first quarter worth about $72,000. Tower Research Capital LLC TRC raised its holdings in shares of Annexon by 53.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after acquiring an additional 4,141 shares during the last quarter. ProShare Advisors LLC bought a new position in Annexon in the 1st quarter valued at about $87,000. Finally, EntryPoint Capital LLC acquired a new position in Annexon during the 1st quarter valued at about $98,000.

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.