Annexon (NASDAQ:ANNX) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Annexon (NASDAQ:ANNX) posted its quarterly earnings results on Monday. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.03, FiscalAI reports.

Annexon Stock Performance

NASDAQ:ANNX traded up $0.03 during mid-day trading on Monday, hitting $4.23. The company had a trading volume of 2,843,650 shares, compared to its average volume of 3,043,762. Annexon has a fifty-two week low of $2.54 and a fifty-two week high of $7.18. The firm has a market cap of $801.92 million, a P/E ratio of -3.65 and a beta of 1.43. The business’s fifty day moving average is $4.11 and its two-hundred day moving average is $5.17.

Insider Activity

In related news, CEO Douglas Love bought 26,065 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was bought at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the transaction, the chief executive officer owned 390,476 shares of the company’s stock, valued at $1,495,523.08. This represents a 7.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ANNX. Citigroup began coverage on shares of Annexon in a report on Tuesday, July 21st. They issued a “market underperform” rating on the stock. Needham & Company LLC lifted their target price on shares of Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Annexon from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. upped their target price on shares of Annexon from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a research note on Thursday, October 15th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Annexon has a consensus rating of “Hold” and an average price target of $15.29.

Annexon Company Profile

Annexon, Inc (NASDAQ: ANNX) is a clinical-stage biotechnology company developing therapies for diseases associated with abnormal activation of the classical complement pathway. The company’s approach is designed to selectively inhibit complement activity while preserving the immune system’s ability to perform essential functions.

Annexon’s pipeline has included ANX005, a monoclonal antibody targeting C1q, the initiating protein of the classical complement pathway. The company has evaluated ANX005 in immune-mediated and neuroinflammatory disorders, including Guillain-Barré syndrome.