Annexon (NASDAQ:ANNX) Posts Earnings Results, Beats Estimates By $0.03 EPS

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

Annexon Price Performance

Shares of ANNX stock traded up $0.03 on Monday, reaching $4.23. 2,843,650 shares of the stock were exchanged, compared to its average volume of 3,043,762. The stock has a market cap of $801.92 million, a PE ratio of -3.65 and a beta of 1.43. Annexon has a one year low of $2.54 and a one year high of $7.18. The stock has a 50 day moving average price of $4.11 and a 200 day moving average price of $5.17.

Insider Transactions at Annexon

In other news, CEO Douglas Love purchased 26,065 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were acquired at an average price of $3.83 per share, for a total transaction of $99,828.95. Following the completion of the acquisition, the chief executive officer directly owned 390,476 shares in the company, valued at approximately $1,495,523.08. The trade was 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. 10.31% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ANNX. Wall Street Zen cut shares of Annexon from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Citizens Jmp upgraded shares of Annexon from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 13th. Needham & Company LLC upped their target price on shares of Annexon from $11.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Annexon in a research note on Monday, July 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Annexon in a report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.