Annexon (NASDAQ:ANNX) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Annexon (NASDAQ:ANNX) issued its quarterly earnings data on Wednesday. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04), FiscalAI reports.

Here are the key takeaways from Annexon’s conference call:

• Tanruprubart showed rapid improvement in GBS patients: all 10 patients in the initial FORWARD cohort improved within four days, including recovery of walking ability in four bed-bound patients and ventilator weaning in one patient. Annexon plans to include the data in its U.S. BLA submission, still targeted for the fourth quarter of 2026.
• Annexon expanded the ARCHER II geographic atrophy trial to include an independent month-24 dual primary endpoint while maintaining the month-15 endpoint. Management said strong enrollment, patient retention, dosing compliance, and trial execution provide sufficient power for both time points.
• The month-15 ARCHER II assessment remains expected in the fourth quarter of 2026, but patient-level data will remain masked if the trial continues to month 24. A month-15 success could lead to sub-study results in the first quarter of 2027, while completion of the full month-24 analysis is expected in the third quarter of 2027.
• Annexon secured an Oxford Finance credit facility providing access to up to $200 million in non-dilutive capital, which management said extends its cash runway into 2028 and supports regulatory preparation and potential global commercialization.

Annexon Trading Down 1.6%

ANNX stock traded down $0.09 during trading on Friday, reaching $5.17. 323,884 shares of the stock were exchanged, compared to its average volume of 2,935,940. Annexon has a twelve month low of $2.03 and a twelve month high of $7.18. The company has a market capitalization of $847.87 million, a P/E ratio of -4.47 and a beta of 1.18. The stock has a 50 day simple moving average of $5.35 and a 200-day simple moving average of $5.51.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citigroup initiated coverage on shares of Annexon in a report on Tuesday, July 21st. They issued a “market underperform” rating for the company. The Goldman Sachs Group initiated coverage on Annexon in a research report on Tuesday, May 12th. They issued a “neutral” rating and a $7.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Monday, July 13th. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Annexon in a report on Monday, July 20th. Finally, Needham & Company LLC raised their price objective on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.33.

Insider Buying and Selling

In other news, Director Muneer A. Satter acquired 613,497 shares of Annexon stock in a transaction on Thursday, May 28th. The stock was bought at an average price of $5.41 per share, for a total transaction of $3,319,018.77. Following the transaction, the director owned 10,342,134 shares of the company’s stock, valued at $55,950,944.94. The trade was a 6.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 10.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Annexon

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in shares of Annexon by 381.5% in the 4th quarter. Invesco Ltd. now owns 972,449 shares of the company’s stock worth $4,882,000 after purchasing an additional 770,504 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Annexon during the 4th quarter worth about $52,000. XTX Topco Ltd increased its position in Annexon by 64.6% in the 4th quarter. XTX Topco Ltd now owns 243,313 shares of the company’s stock valued at $1,221,000 after acquiring an additional 95,473 shares in the last quarter. Ikarian Capital LLC bought a new position in shares of Annexon in the fourth quarter worth about $1,156,000. Finally, Virtus Investment Advisers LLC lifted its position in shares of Annexon by 27.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 53,527 shares of the company’s stock worth $269,000 after purchasing an additional 11,540 shares in the last quarter.

About Annexon

Annexon Inc is a clinical-stage biotechnology company focused on the discovery and development of complement-targeted therapies for patients with neurodegenerative and neuroimmune diseases. The company’s research platform centers on the inhibition of the C1 complex, a key initiator of the classical complement pathway implicated in several rare and life-threatening disorders. By selectively targeting upstream complement activation, Annexon aims to prevent the aberrant immune-mediated damage that characterizes conditions such as Guillain-Barré syndrome (GBS) and autoimmune neuropathies.

At the core of Annexon’s pipeline is ANX005, a humanized monoclonal antibody directed against the C1q subcomponent, currently in Phase 2 clinical trials for acute GBS and chronic neurodegenerative indications.