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

Annexon (NASDAQ:ANNX) had its target price raised by Bank of America from $7.00 to $10.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 36.43% from the stock’s previous close.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised Annexon from a “neutral” rating to an “overweight” rating and set a $11.00 price objective on the stock in a report on Friday, March 1st. Wells Fargo & Company upped their price objective on Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Annexon in a report on Wednesday. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Annexon in a report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.14.

Annexon Stock Down 6.1 %

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

Insider Transactions at Annexon

In other news, CEO Douglas Love sold 5,782 shares of Annexon stock in a transaction on Monday, February 12th. The stock was sold at an average price of $5.54, for a total transaction of $32,032.28. Following the sale, the chief executive officer now directly owns 196,121 shares in the company, valued at approximately $1,086,510.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 8,940 shares of company stock worth $49,514 in the last ninety days. Company insiders own 19.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ANNX. Kennedy Capital Management LLC bought a new stake in Annexon in the 3rd quarter worth approximately $2,306,000. Vontobel Holding Ltd. lifted its position in Annexon by 33.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 898,785 shares of the company’s stock worth $2,121,000 after buying an additional 224,156 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Annexon in the 2nd quarter worth approximately $59,000. Sectoral Asset Management Inc. lifted its position in Annexon by 33.2% in the 3rd quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock worth $2,121,000 after buying an additional 224,156 shares during the last quarter. Finally, Silverarc Capital Management LLC lifted its position in Annexon by 2.5% in the 3rd quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock worth $943,000 after buying an additional 9,805 shares during 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.