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

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

Other research analysts have also 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 company an “overweight” rating in a research note on Monday, April 1st. 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 report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Annexon in a report on Thursday, April 11th. Bank of America increased 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. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Annexon in a report on Wednesday, March 27th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Annexon has an average rating of “Buy” and a consensus target price of $14.43.

Annexon Trading Up 3.1 %

Shares of NASDAQ:ANNX opened at $4.59 on Wednesday. Annexon has a twelve month low of $1.57 and a twelve month high of $8.40. The firm has a market cap of $413.24 million, a P/E ratio of -2.58 and a beta of 1.14. The company has a 50 day moving average of $5.68 and a 200-day moving average of $4.13.

Annexon (NASDAQ:ANNX) last released its quarterly earnings results 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. Equities research analysts forecast that Annexon will post -1.36 EPS for the current year.

Insider Buying and Selling

In related 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 transaction of $32,032.28. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at 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 Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BVF Inc. IL bought a new stake in Annexon during the 4th quarter worth about $31,780,000. Bain Capital Life Sciences Investors LLC grew its position in shares of Annexon by 41.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock valued at $36,600,000 after purchasing an additional 2,359,793 shares during the period. Kennedy Capital Management LLC acquired a new position in shares of Annexon in the 3rd quarter valued at approximately $2,306,000. Sectoral Asset Management Inc. grew its position in shares of Annexon by 33.2% in the 3rd quarter. Sectoral Asset Management Inc. now owns 898,785 shares of the company’s stock valued at $2,121,000 after purchasing an additional 224,156 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in Annexon during the 4th quarter worth approximately $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.