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

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

ANNX has been the subject of several other research reports. Wells Fargo & Company lifted their target price on shares of Annexon from $11.00 to $12.00 and gave the company an overweight rating in a report on Wednesday, March 27th. Bank of America boosted their price target on shares of Annexon from $7.00 to $10.00 and gave the stock a buy rating in a research note on Thursday, March 28th. HC Wainwright restated a buy rating and issued a $30.00 price target on shares of Annexon in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target 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. Finally, Needham & Company LLC restated a buy rating and issued a $16.00 price target on shares of Annexon in a research note on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $14.43.

Annexon Stock Performance

Annexon stock opened at $4.70 on Wednesday. Annexon has a fifty-two week low of $1.57 and a fifty-two week high of $8.40. The firm has a 50 day moving average price of $5.67 and a 200 day moving average price of $4.15. The company has a market capitalization of $423.14 million, a PE ratio of -2.64 and a beta of 1.14.

Annexon (NASDAQ:ANNX) last posted its earnings results on Tuesday, March 26th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.09. As a group, equities research analysts forecast that Annexon will post -1.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Douglas Love sold 5,782 shares of the business’s 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 legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 8,940 shares of company stock worth $49,514 over the last 90 days. Corporate insiders own 19.11% of the company’s stock.

Hedge Funds Weigh In On Annexon

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Annexon during the fourth quarter worth $221,000. BVF Inc. IL acquired a new position in shares of Annexon during the fourth quarter worth $31,780,000. Lighthouse Investment Partners LLC acquired a new position in shares of Annexon during the fourth quarter worth $306,000. Bain Capital Life Sciences Investors LLC grew its stake in shares of Annexon by 41.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after purchasing an additional 2,359,793 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of 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 purchasing an additional 4,141 shares in the last quarter.

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.