Annexon (NASDAQ:ANNX) Stock Rating Reaffirmed by Cantor Fitzgerald

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

Other equities analysts also recently issued reports about the company. Wells Fargo & Company boosted their price objective on Annexon from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. 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. 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. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Annexon in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised their price objective on Annexon from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Annexon currently has a consensus rating of “Buy” and a consensus target price of $14.43.

Annexon Price Performance

Shares of ANNX opened at $4.59 on Wednesday. Annexon has a one year low of $1.57 and a one year high of $8.40. The firm has a market capitalization of $413.24 million, a P/E ratio of -2.58 and a beta of 1.14. The business has a fifty 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 the consensus estimate of ($0.45) by $0.09. Analysts expect that Annexon will post -1.36 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas Love sold 5,782 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the transaction, the chief executive officer now owns 196,121 shares of the company’s stock, valued at approximately $1,086,510.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 8,940 shares of company stock valued at $49,514 in the last quarter. 19.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Annexon

Several institutional investors and hedge funds have recently modified their holdings of ANNX. Tower Research Capital LLC TRC increased its stake in Annexon by 53.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,924 shares of the company’s stock worth $54,000 after buying an additional 4,141 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Annexon during the 3rd quarter worth approximately $52,000. Forefront Analytics LLC lifted its holdings in Annexon by 18.3% in the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock valued at $75,000 after acquiring an additional 4,890 shares during the last quarter. Virtu Financial LLC acquired a new position in Annexon in the fourth quarter valued at approximately $221,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Annexon in the fourth quarter valued at approximately $306,000.

Annexon Company Profile

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.