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

Annexon (NASDAQ:ANNX) released its quarterly earnings data 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 Stock Up 0.7%

ANNX stock traded up $0.03 during mid-day trading on Monday, hitting $4.23. 2,843,650 shares of the company were exchanged, compared to its average volume of 3,043,762. Annexon has a 12-month low of $2.54 and a 12-month high of $7.18. The firm has a market capitalization of $801.92 million, a P/E ratio of -3.65 and a beta of 1.43. The business has a fifty day simple moving average of $4.11 and a 200-day simple moving average of $5.17.

Wall Street Analyst Weigh In

ANNX has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Annexon in a research note on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Annexon in a research report on Thursday, October 15th. Needham & Company LLC upped their price objective on Annexon from $11.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. increased their price objective on Annexon from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Annexon has an average rating of “Hold” and an average target price of $15.29.

Insider Activity

In related news, CEO Douglas Love purchased 26,065 shares of Annexon stock in a transaction dated Thursday, September 24th. The shares were acquired at an average cost of $3.83 per share, with a total value of $99,828.95. Following the purchase, the chief executive officer owned 390,476 shares of the company’s stock, 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 SEC, which is available at the SEC website. Company insiders own 10.31% of the company’s stock.

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.