Annexon (NASDAQ:ANNX) Given Overweight Rating at Cantor Fitzgerald

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

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

Annexon Price Performance

ANNX opened at $4.70 on Wednesday. Annexon has a 1 year low of $1.57 and a 1 year high of $8.40. The stock has a 50-day moving average price of $5.67 and a 200-day moving average price of $4.17. The firm has a market cap of $423.14 million, a PE ratio of -2.64 and a beta of 1.14.

Annexon (NASDAQ:ANNX) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.09. As a group, sell-side analysts anticipate that Annexon will post -1.36 EPS for the current year.

Insider Activity at Annexon

In related news, CEO Douglas Love sold 5,782 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly owns 196,121 shares in the company, valued at approximately $1,086,510.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 8,940 shares of company stock worth $49,514. 19.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ANNX. BVF Inc. IL purchased a new position in Annexon in the 4th quarter worth approximately $31,780,000. Bain Capital Life Sciences Investors LLC raised its holdings in shares of Annexon by 41.4% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,061,719 shares of the company’s stock worth $36,600,000 after acquiring an additional 2,359,793 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Annexon during the 3rd quarter worth approximately $2,306,000. Sectoral Asset Management Inc. raised its holdings in shares of Annexon by 33.2% during the 3rd 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 in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of 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.