Wells Fargo & Company Boosts Annexon (NASDAQ:ANNX) Price Target to $12.00

Annexon (NASDAQ:ANNX) had its price target boosted by Wells Fargo & Company from $11.00 to $12.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently commented on the company. HC Wainwright reiterated a buy rating and issued a $30.00 price objective on shares of Annexon in a report on Wednesday. JPMorgan Chase & Co. raised Annexon from a neutral rating to an overweight rating and set a $11.00 price objective for the company in a research report on Friday, March 1st. Bank of America raised Annexon from a neutral rating to a buy rating and increased their price target for the company from $4.00 to $6.00 in a research report on Thursday, December 21st. Finally, Needham & Company LLC restated a buy rating and issued a $16.00 price objective on shares of Annexon in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $14.14.

Annexon Stock Down 8.2 %

ANNX stock opened at $7.17 on Wednesday. The company has a market cap of $381.73 million, a P/E ratio of -4.03 and a beta of 1.10. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40. The business has a fifty day moving average of $5.40 and a 200-day moving average of $3.71.

Insider Transactions at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the transaction, the chief executive officer now owns 196,121 shares in the company, valued at $1,086,510.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 8,940 shares of company stock worth $49,514 in the last 90 days. Insiders own 19.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ANNX. Quantbot Technologies LP increased its stake in Annexon by 630.8% in the first quarter. Quantbot Technologies LP now owns 9,500 shares of the company’s stock valued at $25,000 after acquiring an additional 8,200 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Annexon by 31.3% during the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after purchasing an additional 1,903 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Annexon during the first quarter worth about $41,000. Hsbc Holdings PLC purchased a new stake in shares of Annexon during the third quarter worth about $45,000. Finally, Bank of America Corp DE raised its stake in Annexon by 29.7% in the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock worth $46,000 after buying an additional 2,049 shares in the last quarter.

About Annexon

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.