Annexon's (ANNX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Annexon (NASDAQ:ANNX - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports.

Other equities analysts also recently issued reports about the stock. HC Wainwright restated a "buy" rating and issued a $30.00 target price on shares of Annexon in a research note on Friday. Needham & Company LLC restated a "buy" rating and set a $16.00 price objective on shares of Annexon in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.80.

Annexon Trading Down 3.3 %

NASDAQ ANNX traded down $0.21 on Friday, reaching $6.12. 1,916,713 shares of the stock were exchanged, compared to its average volume of 1,819,268. The firm has a market capitalization of $646.58 million, a PE ratio of -4.98 and a beta of 1.23. Annexon has a one year low of $2.27 and a one year high of $8.40. The company's 50-day simple moving average is $6.91 and its two-hundred day simple moving average is $5.92.

Annexon (NASDAQ:ANNX - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.23). Sell-side analysts forecast that Annexon will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In other Annexon news, EVP Ted Yednock sold 5,500 shares of the firm's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $5.64, for a total value of $31,020.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $56,400. This trade represents a 35.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 20,908 shares of company stock worth $135,768 in the last quarter. Corporate insiders own 12.67% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANNX. Barclays PLC raised its position in Annexon by 212.0% in the third quarter. Barclays PLC now owns 177,765 shares of the company's stock valued at $1,052,000 after purchasing an additional 120,789 shares during the period. Wellington Management Group LLP boosted its position in Annexon by 36.2% in the 3rd quarter. Wellington Management Group LLP now owns 263,360 shares of the company's stock valued at $1,559,000 after buying an additional 69,941 shares during the period. State Street Corp grew its stake in shares of Annexon by 116.6% in the third quarter. State Street Corp now owns 3,841,879 shares of the company's stock worth $22,744,000 after acquiring an additional 2,068,294 shares in the last quarter. Quarry LP acquired a new stake in Annexon in the 3rd quarter valued at about $118,000. Finally, Parkman Healthcare Partners LLC boosted its stake in shares of Annexon by 0.5% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 328,613 shares of the company's stock valued at $1,945,000 after buying an additional 1,768 shares during the period.

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.