Cantor Fitzgerald Reaffirms “Overweight” Rating for Annexon (NASDAQ:ANNX)

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

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Annexon from $11.00 to $13.00 and gave the stock an overweight rating in a research note on Monday, April 1st. Wells Fargo & Company increased 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 reissued a buy rating and set a $16.00 price target on shares of Annexon in a research report on Wednesday, March 27th. HC Wainwright reissued a buy rating and set a $30.00 price target on shares of Annexon in a research report on Wednesday, March 27th. Finally, Bank of America increased their price target 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and an average price target of $14.43.

Annexon Price Performance

Shares of ANNX stock opened at $6.19 on Wednesday. The firm has a market cap of $329.56 million, a PE ratio of -3.48 and a beta of 1.14. The company has a 50-day moving average of $5.59 and a two-hundred day moving average of $3.85. Annexon has a 1-year low of $1.57 and a 1-year high of $8.40.

Insider Activity at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the firm’s 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 sale, the chief executive officer now owns 196,121 shares of the company’s stock, valued at $1,086,510.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 8,940 shares of company stock valued at $49,514 over the last 90 days. 19.11% of the stock is owned by corporate insiders.

Institutional Trading of Annexon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANNX. Kennedy Capital Management LLC purchased a new position in shares of Annexon during the third quarter worth approximately $2,306,000. Vontobel Holding Ltd. grew its position in shares of Annexon by 33.2% during the third quarter. Vontobel Holding Ltd. now owns 898,785 shares of the company’s stock worth $2,121,000 after acquiring an additional 224,156 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Annexon during the second quarter worth approximately $59,000. Sectoral Asset Management Inc. grew its position in shares of Annexon by 33.2% during the third quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock worth $2,121,000 after acquiring an additional 224,156 shares during the last quarter. Finally, Silverarc Capital Management LLC grew its position in shares of Annexon by 2.5% during the third quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock worth $943,000 after acquiring an additional 9,805 shares during the last quarter.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.