Annexon (NASDAQ:ANNX) Releases Earnings Results, Beats Estimates By $0.04 EPS

Annexon (NASDAQ:ANNX) posted its earnings results on Monday. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.04, FiscalAI reports.

Annexon Price Performance

Shares of ANNX opened at $5.54 on Wednesday. The company has a market capitalization of $662.75 million, a P/E ratio of -4.07 and a beta of 1.15. Annexon has a one year low of $1.28 and a one year high of $7.18. The business’s 50 day simple moving average is $5.61 and its 200-day simple moving average is $4.56.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Annexon news, Director William H. Carson acquired 8,000 shares of Annexon stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $5.67 per share, with a total value of $45,360.00. Following the completion of the purchase, the director owned 62,405 shares in the company, valued at $353,836.35. This trade represents a 14.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ted Yednock sold 7,857 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total value of $40,149.27. Following the sale, the executive vice president owned 97,227 shares in the company, valued at $496,829.97. The trade was a 7.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 32,513 shares of company stock worth $165,973. 12.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Annexon

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Annexon by 381.5% in the fourth quarter. Invesco Ltd. now owns 972,449 shares of the company’s stock worth $4,882,000 after acquiring an additional 770,504 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Annexon during the fourth quarter valued at approximately $52,000. XTX Topco Ltd increased its holdings in shares of Annexon by 64.6% in the fourth quarter. XTX Topco Ltd now owns 243,313 shares of the company’s stock valued at $1,221,000 after purchasing an additional 95,473 shares in the last quarter. Ikarian Capital LLC acquired a new stake in shares of Annexon in the fourth quarter valued at approximately $1,156,000. Finally, Virtus Investment Advisers LLC raised its position in Annexon by 27.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 53,527 shares of the company’s stock worth $269,000 after purchasing an additional 11,540 shares during the last quarter.

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.