Annexon (NASDAQ:ANNX) Price Target Raised to $15.00

Annexon (NASDAQ:ANNX) had its target price boosted by JPMorgan Chase & Co. from $14.00 to $15.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

ANNX has been the subject of a number of other reports. Citigroup started coverage on Annexon in a report on Tuesday, July 21st. They set a “market underperform” rating for the company. Needham & Company LLC raised their price objective on shares of Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Annexon in a research report on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.29.

Annexon Stock Performance

Shares of NASDAQ:ANNX opened at $4.19 on Wednesday. The company has a market cap of $794.34 million, a P/E ratio of -3.61 and a beta of 1.32. The stock’s 50-day moving average is $4.75 and its 200-day moving average is $5.25. Annexon has a 52-week low of $2.54 and a 52-week high of $7.18.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). As a group, equities analysts predict that Annexon will post -1.05 EPS for the current year.

Insider Activity at Annexon

In related news, CEO Douglas Love bought 26,065 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The stock was acquired at an average price of $3.83 per share, for a total transaction of $99,828.95. Following the transaction, the chief executive officer directly owned 390,476 shares of the company’s stock, valued at $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Abel Hall LLC bought a new stake in Annexon during the first quarter worth about $61,000. Integrated Wealth Concepts LLC increased its holdings in shares of Annexon by 32.3% during the second quarter. Integrated Wealth Concepts LLC now owns 13,537 shares of the company’s stock worth $77,000 after buying an additional 3,305 shares in the last quarter. Forefront Analytics LLC bought a new position in shares of Annexon in the second quarter valued at approximately $81,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Annexon in the fourth quarter valued at approximately $82,000. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Annexon in the 1st quarter worth approximately $93,000.

About Annexon

Annexon, Inc is a clinical-stage biopharmaceutical company developing therapies for diseases driven by activation of the classical complement pathway, an immune-system mechanism involved in inflammation and tissue damage. The company’s approach is designed to selectively inhibit complement activity while preserving other parts of the immune response.

Annexon’s pipeline has included ANX005, an investigational monoclonal antibody that targets C1q, an initiating protein in the classical complement pathway.