Annexon (NASDAQ:ANNX) Releases Quarterly Earnings Results, Meets Expectations

Annexon (NASDAQ:ANNX) posted its quarterly earnings results on Monday. The company reported ($0.32) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.32), reports.

Annexon Price Performance

ANNX opened at $4.96 on Tuesday. The company has a market capitalization of $593.36 million, a price-to-earnings ratio of -3.52 and a beta of 1.15. The business’s 50-day moving average price is $5.62 and its two-hundred day moving average price is $4.54. Annexon has a 1 year low of $1.28 and a 1 year high of $7.18.

Insider Activity at Annexon

In related news, EVP Ted Yednock sold 7,857 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total transaction of $40,149.27. Following the completion of the transaction, the executive vice president directly owned 97,227 shares in the company, valued at approximately $496,829.97. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dean Richard Artis sold 5,290 shares of Annexon stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total value of $26,979.00. Following the completion of the sale, the executive vice president directly owned 123,487 shares in the company, valued at approximately $629,783.70. This represents a 4.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,513 shares of company stock valued at $165,973 over the last ninety days. Company insiders own 12.67% of the company’s stock.

Institutional Trading of Annexon

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Annexon by 122.6% during the first 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. Jane Street Group LLC increased 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 buying an additional 7,553 shares during the last quarter. Acadian Asset Management LLC lifted its position in Annexon by 31.1% during the 1st quarter. Acadian Asset Management LLC now owns 203,990 shares of the company’s stock worth $393,000 after buying an additional 48,345 shares in the last quarter. Geode Capital Management LLC lifted its position in Annexon by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,284,773 shares of the company’s stock worth $5,484,000 after buying an additional 39,763 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Annexon by 6.6% during the 2nd quarter. American Century Companies Inc. now owns 211,195 shares of the company’s stock worth $507,000 after buying an additional 13,001 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ANNX. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a research report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Annexon in a research report on Wednesday, January 14th. Finally, Chardan Capital reiterated a “buy” rating and set a $16.00 price objective on shares of Annexon in a report on Friday, March 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Annexon presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Annexon Company Profile

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.