Annexon’s (ANNX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Annexon (NASDAQ:ANNX) in a research report report published on Wednesday, Benzinga reports.

Several other equities analysts have also commented on the stock. Wells Fargo & Company upped their price target on shares of Annexon from $11.00 to $12.00 and gave the stock an overweight rating in a research report on Wednesday, March 27th. Needham & Company LLC restated a buy rating and set a $16.00 price target on shares of Annexon in a research report on Thursday, April 11th. HC Wainwright reiterated a buy rating and issued a $30.00 target price on shares of Annexon in a research report on Wednesday, March 27th. JPMorgan Chase & Co. increased their target price on shares of Annexon from $11.00 to $13.00 and gave the company an overweight rating in a research report on Monday, April 1st. Finally, Bank of America increased their target price on shares of Annexon from $7.00 to $10.00 and gave the company a buy rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon has a consensus rating of Buy and an average price target of $14.43.

Annexon Stock Performance

Shares of NASDAQ:ANNX opened at $4.45 on Wednesday. The stock has a market capitalization of $400.63 million, a price-to-earnings ratio of -2.50 and a beta of 1.14. Annexon has a 1-year low of $1.57 and a 1-year high of $8.40. The company’s fifty day moving average is $5.69 and its two-hundred day moving average is $4.13.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results on Tuesday, March 26th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.09. Sell-side analysts expect that Annexon will post -1.36 EPS for the current fiscal year.

Insider Buying and Selling at Annexon

In other news, CEO Douglas Love sold 5,782 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the sale, the chief executive officer now directly owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 8,940 shares of company stock valued at $49,514. 19.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Annexon

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Annexon in the third quarter worth approximately $52,000. Tower Research Capital LLC TRC increased its holdings in Annexon by 53.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after buying an additional 4,141 shares during the last quarter. Forefront Analytics LLC increased its holdings in Annexon by 18.3% in the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock worth $75,000 after buying an additional 4,890 shares during the last quarter. Virtu Financial LLC acquired a new position in Annexon in the fourth quarter worth approximately $221,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Annexon in the fourth quarter worth approximately $306,000.

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.