Annexon (NASDAQ:ANNX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Annexon (NASDAQ:ANNX) in a research report sent to investors on Friday morning,Benzinga reports. Needham & Company LLC currently has a $16.00 target price on the stock.

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

Annexon Trading Down 3.3 %

Shares of NASDAQ:ANNX traded down $0.21 during midday trading on Friday, reaching $6.12. The company had a trading volume of 1,917,213 shares, compared to its average volume of 1,819,268. The stock has a market cap of $646.58 million, a P/E ratio of -4.98 and a beta of 1.23. The company’s 50 day moving average price is $6.91 and its 200 day moving average price is $5.92. Annexon has a 52-week low of $2.27 and a 52-week high of $8.40.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.64, for a total transaction of $31,020.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $56,400. This represents a 35.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 20,908 shares of company stock valued at $135,768. Company insiders own 12.67% of the company’s stock.

Institutional Investors Weigh In On Annexon

Several hedge funds and other institutional investors have recently modified their holdings of ANNX. Parkman Healthcare Partners LLC grew its stake in Annexon by 0.5% during the third quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company’s stock valued at $1,945,000 after acquiring an additional 1,768 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Annexon by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 159,586 shares of the company’s stock worth $945,000 after purchasing an additional 2,450 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Annexon by 78.2% in the first 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 during the period. GSA Capital Partners LLP raised its position in shares of Annexon by 10.7% in the third quarter. GSA Capital Partners LLP now owns 34,581 shares of the company’s stock worth $205,000 after buying an additional 3,355 shares in the last quarter. Finally, Allegheny Financial Group LTD boosted its stake in Annexon by 16.1% during the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock valued at $123,000 after buying an additional 3,500 shares during the period.

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.