Annexon (NASDAQ:ANNX) Price Target Raised to $10.00 at Bank of America

Annexon (NASDAQ:ANNX) had its price objective raised by Bank of America from $7.00 to $10.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 36.43% from the company’s current price.

Several other research firms have also commented on ANNX. JPMorgan Chase & Co. upgraded shares of Annexon from a “neutral” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Friday, March 1st. Wells Fargo & Company raised their price target on shares of Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $16.00 price target on shares of Annexon in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Annexon in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon currently has an average rating of “Buy” and an average price target of $14.14.

Annexon Trading Down 6.1 %

Shares of Annexon stock traded down $0.48 during mid-day trading on Thursday, hitting $7.33. 2,221,956 shares of the stock were exchanged, compared to its average volume of 1,488,801. The company has a 50-day simple moving average of $5.29 and a 200 day simple moving average of $3.65. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40. The stock has a market capitalization of $390.25 million, a price-to-earnings ratio of -4.12 and a beta of 1.10.

Insider Activity

In related news, CEO Douglas Love sold 5,782 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the sale, the chief executive officer now owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 8,940 shares of company stock valued at $49,514. 19.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Annexon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP raised its position in Annexon by 630.8% in the first quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock worth $25,000 after acquiring an additional 8,200 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Annexon by 31.3% in the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after acquiring an additional 1,903 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Annexon in the first quarter worth about $41,000. Hsbc Holdings PLC purchased a new position in Annexon during the 3rd quarter valued at about $45,000. Finally, Bank of America Corp DE grew its stake in shares of Annexon by 29.7% in the 4th quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock valued at $46,000 after buying an additional 2,049 shares in the last quarter.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.