Annexon (NASDAQ:ANNX) Issues Quarterly Earnings Results

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

Annexon Price Performance

Shares of NASDAQ:ANNX opened at $4.23 on Tuesday. The company has a market capitalization of $801.92 million, a price-to-earnings ratio of -3.65 and a beta of 1.43. The business’s 50-day moving average is $4.09 and its 200-day moving average is $5.16. Annexon has a 1 year low of $2.54 and a 1 year high of $7.18.

Analyst Ratings Changes

ANNX has been the topic of a number of recent analyst reports. Wall Street Zen lowered Annexon from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. increased 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. Weiss Ratings restated a “sell (d-)” rating on shares of Annexon in a report on Thursday, October 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Annexon in a research report on Monday, July 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Annexon in a research note on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Annexon presently has a consensus rating of “Hold” and a consensus target price of $15.29.

Insider Activity at Annexon

In other Annexon news, CEO Douglas Love bought 26,065 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were bought at an average price of $3.83 per share, for a total transaction of $99,828.95. Following the transaction, the chief executive officer directly owned 390,476 shares in the company, valued at approximately $1,495,523.08. This trade represents a 7.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.31% of the stock is currently owned by insiders.

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.