Annexon (NASDAQ:ANNX) Stock Price Down 9%

Shares of Annexon, Inc. (NASDAQ:ANNX) traded down 9% during trading on Monday . The stock traded as low as $5.22 and last traded at $5.43. 532,019 shares were traded during trading, a decline of 75% from the average session volume of 2,095,548 shares. The stock had previously closed at $5.97.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ANNX. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Annexon in a report on Tuesday, June 4th. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Annexon in a research report on Tuesday, June 4th. Wells Fargo & Company dropped their target price on Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a report on Wednesday, June 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Annexon has an average rating of “Buy” and an average target price of $15.33.

Annexon Price Performance

The company has a 50-day simple moving average of $5.45 and a 200-day simple moving average of $5.32. The firm has a market cap of $499.95 million, a PE ratio of -3.68 and a beta of 1.29.

Annexon (NASDAQ:ANNX) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.11. As a group, equities research analysts predict that Annexon, Inc. will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Annexon

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in Annexon during the 2nd quarter valued at $51,000. Ovata Capital Management Ltd purchased a new position in shares of Annexon during the second quarter valued at $980,000. Allegheny Financial Group LTD raised its holdings in shares of Annexon by 16.1% in the second quarter. Allegheny Financial Group LTD now owns 25,200 shares of the company’s stock valued at $123,000 after acquiring an additional 3,500 shares in the last quarter. Rhumbline Advisers lifted its stake in Annexon by 54.5% in the second quarter. Rhumbline Advisers now owns 126,659 shares of the company’s stock worth $621,000 after acquiring an additional 44,681 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Annexon during the 2nd quarter worth about $56,000.

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.