Needham Reiterates Annexon (ANNX) Buy Recommendation

Fintel reports that on August 7, 2023, Needham reiterated coverage of Annexon (NASDAQ:ANNX) with a Buy recommendation.

Analyst Price Forecast Suggests 343.48% Upside

As of August 2, 2023, the average one-year price target for Annexon is 15.30. The forecasts range from a low of 4.04 to a high of $31.50. The average price target represents an increase of 343.48% from its latest reported closing price of 3.45.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Annexon is 0MM. The projected annual non-GAAP EPS is -2.23.

What is the Fund Sentiment?

There are 159 funds or institutions reporting positions in Annexon. This is an increase of 24 owner(s) or 17.78% in the last quarter. Average portfolio weight of all funds dedicated to ANNX is 0.32%, an increase of 16.10%. Total shares owned by institutions increased in the last three months by 16.98% to 57,765K shares. ANNX / Annexon Inc Put/Call Ratios The put/call ratio of ANNX is 0.03, indicating a bullish outlook.

What are Other Shareholders Doing?

ANNX / Annexon Inc Shares Held by Institutions

Satter Management Co. holds 7,056K shares representing 13.29% ownership of the company. In it's prior filing, the firm reported owning 4,409K shares, representing an increase of 37.51%. The firm increased its portfolio allocation in ANNX by 36.90% over the last quarter.

Bain Capital Life Sciences Investors holds 4,887K shares representing 9.21% ownership of the company. No change in the last quarter.

Adage Capital Partners Gp, L.l.c. holds 3,550K shares representing 6.69% ownership of the company. No change in the last quarter.

Redmile Group holds 3,503K shares representing 6.60% ownership of the company. No change in the last quarter.

VR Adviser holds 3,220K shares representing 6.07% ownership of the company. No change in the last quarter.

Annexon Background Information
(This description is provided by the company.)

Annexon, Inc., doing business as Annexon Biosciences, operates as a clinical-stage biopharmaceutical company. The Company develops novel therapies for auto-immune and neurodegenerative diseases of body, eye, and brain. Annexon Biosciences serves patients in the State of California.

Additional reading:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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