Needham Maintains Buy on Annexon, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Joseph Stringer has maintained a Buy rating on Annexon (NASDAQ:ANNX) but has reduced the price target from $24 to $16.

November 13, 2023 | 11:32 pm
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Needham has maintained a Buy rating on Annexon but lowered the price target from $24 to $16, indicating a potential downside compared to the previous target.
The reduction in price target by Needham, despite maintaining a Buy rating, suggests that the analyst sees less upside potential for ANNX than previously thought. This could lead to a negative short-term reaction in the stock price as investors adjust their expectations.
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