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

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

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

Annexon Price Performance

Shares of NASDAQ:ANNX opened at $4.45 on Wednesday. The stock has a market cap of $400.63 million, a P/E ratio of -2.50 and a beta of 1.14. The firm has a fifty day moving average price of $5.69 and a 200 day moving average price of $4.13. Annexon has a 1-year low of $1.57 and a 1-year high of $8.40.

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

Insider Activity

In other news, CEO Douglas Love sold 5,782 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 196,121 shares in the company, valued at approximately $1,086,510.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 8,940 shares of company stock worth $49,514 in the last 90 days. 19.11% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Annexon

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its holdings in Annexon by 53.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock valued at $54,000 after acquiring an additional 4,141 shares in the last quarter. SG Americas Securities LLC purchased a new position in Annexon during the 3rd quarter valued at about $52,000. Forefront Analytics LLC increased its holdings in Annexon by 18.3% during the 3rd quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock valued at $75,000 after acquiring an additional 4,890 shares in the last quarter. Virtu Financial LLC purchased a new position in Annexon during the 4th quarter valued at about $221,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Annexon during the 4th quarter valued at about $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.