Cantor Fitzgerald Reaffirms “Overweight” Rating for Annexon (NASDAQ:ANNX)

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

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Annexon in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Annexon in a report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.80.

Annexon Stock Performance

Annexon stock opened at $6.12 on Friday. The company’s 50 day simple moving average is $6.91 and its 200-day simple moving average is $5.92. The company has a market capitalization of $646.58 million, a price-to-earnings ratio of -4.98 and a beta of 1.23. Annexon has a 1 year low of $2.27 and a 1 year high of $8.40.

Insider Transactions at Annexon

In other news, EVP Ted Yednock sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.10, for a total transaction of $31,950.00. Following the completion of the sale, the executive vice president now owns 71,365 shares in the company, valued at approximately $506,691.50. The trade was a 5.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 20,908 shares of company stock worth $135,768. 12.67% of the stock is currently owned by insiders.

Institutional Trading of Annexon

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC raised its position in Annexon by 8.0% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 8,703,268 shares of the company’s stock valued at $62,402,000 after purchasing an additional 641,549 shares during the last quarter. FMR LLC raised its position in Annexon by 3.2% in the 3rd quarter. FMR LLC now owns 8,561,949 shares of the company’s stock valued at $50,687,000 after purchasing an additional 262,229 shares during the last quarter. Point72 Asset Management L.P. raised its position in Annexon by 16.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,989,017 shares of the company’s stock valued at $29,346,000 after purchasing an additional 832,617 shares during the last quarter. State Street Corp raised its position in Annexon by 116.6% in the 3rd quarter. State Street Corp now owns 3,841,879 shares of the company’s stock valued at $22,744,000 after purchasing an additional 2,068,294 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Annexon by 96.4% in the 1st quarter. Vanguard Group Inc. now owns 3,747,655 shares of the company’s stock valued at $26,871,000 after purchasing an additional 1,839,329 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.