Annexon’s (ANNX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Annexon (NASDAQ:ANNX) in a research report sent to investors on Wednesday morning, Benzinga reports.

Several other research analysts have also recently issued reports on the company. HC Wainwright reissued a buy rating and issued a $30.00 price objective on shares of Annexon in a research note on Wednesday, March 27th. Wells Fargo & Company increased their price objective on Annexon from $11.00 to $12.00 and gave the stock an overweight rating in a research note on Wednesday, March 27th. Bank of America increased their price objective on Annexon from $7.00 to $10.00 and gave the stock a buy rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. increased their price objective on 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 reissued a buy rating and issued a $16.00 price objective on shares of Annexon in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $14.43.

Annexon Stock Performance

ANNX opened at $4.70 on Wednesday. The stock has a market cap of $423.14 million, a price-to-earnings ratio of -2.64 and a beta of 1.14. The stock’s 50 day moving average price is $5.67 and its 200-day moving average price is $4.15. Annexon has a one year low of $1.57 and a one year high of $8.40.

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

Insiders Place Their Bets

In other Annexon news, CEO Douglas Love sold 5,782 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 196,121 shares in the company, valued at $1,086,510.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 8,940 shares of company stock worth $49,514 over the last 90 days. Company insiders own 19.11% of the company’s stock.

Institutional Trading of Annexon

A number of hedge funds have recently bought and sold shares of the stock. Bain Capital Life Sciences Investors LLC lifted its holdings in 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 buying an additional 2,359,793 shares during the period. BVF Inc. IL purchased a new stake in shares of Annexon during the 4th quarter valued at $31,780,000. Kennedy Capital Management LLC purchased a new stake in shares of Annexon during the 3rd quarter valued at $2,306,000. Sectoral Asset Management Inc. lifted 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 valued at $2,121,000 after purchasing an additional 224,156 shares during the last quarter. Finally, Silverarc Capital Management LLC lifted its holdings in shares of Annexon by 2.5% during the 3rd quarter. Silverarc Capital Management LLC now owns 399,716 shares of the company’s stock valued at $943,000 after purchasing an additional 9,805 shares during 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.