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

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

Several other equities analysts also recently commented on ANNX. Needham & Company LLC reiterated a buy rating and issued a $16.00 target price on shares of Annexon in a research report on Tuesday, August 13th. Wells Fargo & Company dropped their target price on Annexon from $12.00 to $10.00 and set an overweight rating for the company in a research report on Wednesday, May 15th. Finally, HC Wainwright reissued a buy rating and issued a $30.00 price target on shares of Annexon in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Annexon currently has an average rating of Buy and an average price target of $15.80.

Annexon Trading Up 8.2 %

Annexon stock opened at $6.22 on Monday. The company has a market capitalization of $574.81 million, a PE ratio of -4.23 and a beta of 1.28. Annexon has a 12 month low of $1.57 and a 12 month high of $8.40. The stock has a 50-day moving average price of $5.70 and a two-hundred day moving average price of $5.49.

Annexon (NASDAQ:ANNX) last posted its earnings results on Monday, August 12th. The company reported ($0.23) EPS for the quarter, meeting the consensus estimate of ($0.23). As a group, analysts predict that Annexon will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ted Yednock sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.64, for a total transaction of $31,020.00. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $56,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders acquired 9,600 shares of company stock valued at $53,504 and sold 12,888 shares valued at $75,122. 12.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Annexon

Several large investors have recently added to or reduced their stakes in ANNX. Ameritas Investment Partners Inc. grew its stake in Annexon by 78.2% during the first quarter. Ameritas Investment Partners Inc. now owns 6,718 shares of the company’s stock worth $48,000 after purchasing an additional 2,949 shares during the period. Sandia Investment Management LP acquired a new stake in Annexon during the second quarter worth approximately $49,000. Victory Capital Management Inc. acquired a new stake in Annexon during the second quarter worth approximately $51,000. Principal Financial Group Inc. bought a new position in Annexon in the second quarter worth approximately $56,000. Finally, Comerica Bank bought a new position in Annexon in the first quarter worth approximately $72,000.

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.