Annexon (NASDAQ:ANNX) Price Target Lowered to $11.00 at Needham & Company LLC

Annexon (NASDAQ:ANNX) had its price target reduced by equities research analysts at Needham & Company LLC from $16.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Annexon Stock Performance

Shares of Annexon stock opened at $1.76 on Tuesday. The firm has a 50-day simple moving average of $1.94 and a two-hundred day simple moving average of $3.76. The company has a market cap of $193.10 million, a P/E ratio of -1.68 and a beta of 1.24. Annexon has a fifty-two week low of $1.29 and a fifty-two week high of $7.85.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.07). Equities research analysts forecast that Annexon will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Forefront Analytics LLC raised its holdings in Annexon by 74.0% in the 1st quarter. Forefront Analytics LLC now owns 28,591 shares of the company’s stock valued at $55,000 after buying an additional 12,158 shares during the period. BNP Paribas Financial Markets purchased a new stake in Annexon in the 4th quarter valued at about $59,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Annexon by 164.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,026 shares of the company’s stock valued at $66,000 after buying an additional 21,143 shares during the period. Hsbc Holdings PLC raised its holdings in Annexon by 19.9% in the 1st quarter. Hsbc Holdings PLC now owns 36,935 shares of the company’s stock valued at $73,000 after buying an additional 6,136 shares during the period. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in Annexon in the 4th quarter valued at about $77,000.

About Annexon

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.