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

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

Annexon Stock Performance

NASDAQ ANNX traded down $0.01 during trading hours on Wednesday, hitting $4.21. The company had a trading volume of 347,749 shares, compared to its average volume of 3,037,675. The firm has a market capitalization of $797.18 million, a price-to-earnings ratio of -4.04 and a beta of 1.43. Annexon has a 52 week low of $2.54 and a 52 week high of $7.18. The firm has a 50 day simple moving average of $4.08 and a 200 day simple moving average of $5.15.

Insider Buying and Selling at Annexon

In related news, CEO Douglas Love purchased 26,065 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were purchased at an average cost of $3.83 per share, for a total transaction of $99,828.95. Following the completion of the transaction, the chief executive officer directly owned 390,476 shares in the company, valued at approximately $1,495,523.08. This represents a 7.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 10.31% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ANNX has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Annexon in a research note on Monday, July 20th. Citizens Jmp upgraded shares of Annexon from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Annexon from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, September 30th. Citigroup initiated coverage on shares of Annexon in a report on Tuesday, July 21st. They issued a “market underperform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Thursday, October 15th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Annexon currently has an average rating of “Hold” and a consensus target price of $15.29.

About Annexon

Annexon is a clinical-stage biopharmaceutical company developing antibody-based therapies for diseases driven by the complement system, a part of the immune system involved in inflammation and tissue damage. The company focuses on the classical complement pathway, which it aims to inhibit selectively. Its investigational programs are designed for complement-related autoimmune, inflammatory and neurodegenerative conditions. These include treatments being studied for disorders affecting the nervous system and the eye.