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

Annexon (NASDAQ:ANNX)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Wednesday, Benzinga reports.

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

Annexon Stock Performance

ANNX opened at $4.44 on Wednesday. Annexon has a 52-week low of $1.57 and a 52-week high of $8.40. The stock has a market capitalization of $399.73 million, a PE ratio of -2.49 and a beta of 1.14. The stock’s 50 day moving average price is $5.71 and its 200-day moving average price is $4.13.

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 the consensus estimate of ($0.45) by $0.09. Research analysts forecast 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 Annexon stock in a transaction that occurred on Monday, February 12th. The stock was 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 document filed with the SEC, which is available through the SEC website. Insiders sold 8,940 shares of company stock worth $49,514 in the last quarter. 19.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Annexon

A number of institutional investors and hedge funds have recently modified their holdings of ANNX. SG Americas Securities LLC bought a new stake in shares of Annexon during the 3rd quarter worth approximately $52,000. Tower Research Capital LLC TRC lifted its stake in shares of Annexon by 53.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after acquiring an additional 4,141 shares during the last quarter. Forefront Analytics LLC lifted its stake in shares of Annexon by 18.3% during the 3rd quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock worth $75,000 after acquiring an additional 4,890 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Annexon during the 4th quarter worth approximately $221,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Annexon during the 4th quarter valued at $306,000.

Annexon Company Profile

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.