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

Annexon (NASDAQ:ANNX)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports.

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

Annexon Stock Performance

Shares of NASDAQ ANNX opened at $4.44 on Wednesday. The stock has a market cap of $399.73 million, a P/E ratio of -2.49 and a beta of 1.14. The firm has a 50 day moving average price of $5.71 and a 200 day moving average price of $4.13. Annexon has a 52-week low of $1.57 and a 52-week high of $8.40.

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

Insider Buying and Selling

In related news, CEO Douglas Love sold 5,782 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $5.54, for a total transaction of $32,032.28. Following the completion of the transaction, the chief executive officer now owns 196,121 shares in the company, valued at $1,086,510.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 8,940 shares of company stock worth $49,514. 19.11% of the stock is owned by insiders.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANNX. SG Americas Securities LLC bought a new stake in Annexon during the third quarter worth $52,000. Tower Research Capital LLC TRC raised its position in Annexon by 53.2% during the fourth 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 in the last quarter. Forefront Analytics LLC raised its position in Annexon by 18.3% during the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock worth $75,000 after acquiring an additional 4,890 shares in the last quarter. Virtu Financial LLC bought a new stake in Annexon during the fourth quarter worth $221,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Annexon during the fourth quarter worth $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.