Annexon’s (ANNX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Annexon (NASDAQ:ANNX) in a research note released on Friday morning,Benzinga reports. The firm currently has a $16.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Annexon in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research note on Monday, September 9th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.80.

Annexon Price Performance

Shares of NASDAQ:ANNX traded down $0.21 during mid-day trading on Friday, hitting $6.12. The company had a trading volume of 1,917,213 shares, compared to its average volume of 1,819,268. Annexon has a one year low of $2.27 and a one year high of $8.40. The firm has a fifty day moving average price of $6.91 and a 200 day moving average price of $5.92. The company has a market capitalization of $646.58 million, a PE ratio of -4.98 and a beta of 1.23.

Insider Transactions at Annexon

In related news, EVP Ted Yednock sold 5,408 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.41, for a total value of $40,073.28. Following the transaction, the executive vice president now owns 71,365 shares of the company’s stock, valued at approximately $528,814.65. This trade represents a 7.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 20,908 shares of company stock valued at $135,768 over the last three months. Corporate insiders own 12.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. ProShare Advisors LLC purchased a new stake in Annexon in the 1st quarter valued at $87,000. Vanguard Group Inc. lifted its position in shares of Annexon by 96.4% during the first quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Annexon by 9.6% during the first quarter. Acadian Asset Management LLC now owns 957,993 shares of the company’s stock worth $6,867,000 after purchasing an additional 83,969 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Annexon by 78.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after purchasing an additional 2,949 shares in the last quarter. Finally, American International Group Inc. increased its stake in Annexon by 46.3% in the 1st quarter. American International Group Inc. now owns 33,197 shares of the company’s stock valued at $238,000 after buying an additional 10,510 shares during the last quarter.

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.