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

Annexon (NASDAQ:ANNX) had its target price lowered by Needham & Company LLC from $16.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Annexon Stock Performance

Shares of ANNX stock opened at $1.77 on Tuesday. The firm has a market cap of $194.19 million, a price-to-earnings ratio of -1.69 and a beta of 1.24. Annexon has a 52 week low of $1.29 and a 52 week high of $7.85. The firm’s 50-day simple moving average is $1.98 and its two-hundred day simple moving average is $3.78.

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

Hedge Funds Weigh In On Annexon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. Nuveen LLC bought a new stake in shares of Annexon in the first quarter valued at approximately $670,000. Invesco Ltd. raised its holdings in Annexon by 186.7% during the 1st quarter. Invesco Ltd. now owns 91,409 shares of the company’s stock valued at $176,000 after acquiring an additional 59,528 shares during the period. J. Safra Sarasin Holding AG lifted its position in shares of Annexon by 63.4% during the first quarter. J. Safra Sarasin Holding AG now owns 254,538 shares of the company’s stock worth $491,000 after acquiring an additional 98,794 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Annexon by 65.4% during the 1st quarter. XTX Topco Ltd now owns 58,130 shares of the company’s stock valued at $112,000 after purchasing an additional 22,979 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Annexon by 164.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,026 shares of the company’s stock worth $66,000 after purchasing an additional 21,143 shares during the period.

Annexon Company Profile

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.