Annexon (NASDAQ:ANNX) Price Target Raised to $14.00

Annexon (NASDAQ:ANNX) had its price objective hoisted by JPMorgan Chase & Co. from $10.00 to $14.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

ANNX has been the subject of several other research reports. The Goldman Sachs Group initiated coverage on shares of Annexon in a report on Tuesday, May 12th. They set a “neutral” rating and a $7.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a report on Friday, July 17th. Wall Street Zen downgraded shares of Annexon from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Needham & Company LLC upped their target price on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Finally, Citizens Jmp raised Annexon from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.14.

Annexon Price Performance

Shares of Annexon stock opened at $4.84 on Tuesday. The business has a fifty day simple moving average of $5.39 and a two-hundred day simple moving average of $5.43. Annexon has a 1 year low of $2.04 and a 1 year high of $7.18. The company has a market capitalization of $917.57 million, a price-to-earnings ratio of -4.17 and a beta of 1.21.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). As a group, equities analysts anticipate that Annexon will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Annexon

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Annexon during the 2nd quarter worth approximately $77,312,000. Redmile Group LLC raised its position in shares of Annexon by 44.8% in the first quarter. Redmile Group LLC now owns 14,549,768 shares of the company’s stock valued at $80,606,000 after buying an additional 4,499,124 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Annexon by 266.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock valued at $27,610,000 after buying an additional 4,000,000 shares during the period. Siren L.L.C. bought a new stake in shares of Annexon in the first quarter valued at approximately $21,931,000. Finally, Mak Capital One LLC bought a new stake in shares of Annexon in the fourth quarter valued at approximately $14,852,000.

About Annexon

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.