Annexon (NASDAQ:ANNX) Announces Earnings Results

Annexon (NASDAQ:ANNX) released its quarterly earnings results on Monday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03), Zacks reports.

Annexon Stock Down 0.3%

ANNX stock opened at $2.97 on Wednesday. The company has a market cap of $326.36 million, a price-to-earnings ratio of -2.30 and a beta of 1.28. Annexon has a twelve month low of $1.28 and a twelve month high of $6.93. The business has a 50 day moving average price of $2.91 and a two-hundred day moving average price of $2.51.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ANNX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Annexon in a report on Friday, August 15th. Finally, Zacks Research upgraded Annexon from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

Hedge Funds Weigh In On Annexon

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new stake in Annexon during the second quarter worth $32,000. Marshall Wace LLP acquired a new position in shares of Annexon during the 2nd quarter worth about $72,000. AQR Capital Management LLC increased its stake in shares of Annexon by 122.6% during the 1st quarter. AQR Capital Management LLC now owns 73,790 shares of the company’s stock worth $142,000 after purchasing an additional 40,637 shares during the last quarter. Osaic Holdings Inc. bought a new stake in shares of Annexon in the 2nd quarter valued at about $193,000. Finally, Jane Street Group LLC lifted its stake in Annexon by 8.2% in the 1st quarter. Jane Street Group LLC now owns 99,924 shares of the company’s stock valued at $193,000 after purchasing an additional 7,553 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.