Annexon (NASDAQ:ANNX) Posts Earnings Results, Beats Estimates By $0.07 EPS
by Amy Steele · The Cerbat GemAnnexon (NASDAQ:ANNX – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.07, FiscalAI reports.
Annexon Stock Performance
ANNX stock traded down $0.18 during trading on Thursday, reaching $5.52. 2,357,564 shares of the company were exchanged, compared to its average volume of 2,106,709. The company has a market cap of $897.06 million, a P/E ratio of -4.06 and a beta of 1.22. Annexon has a 52-week low of $1.60 and a 52-week high of $7.18. The stock’s 50 day moving average price is $5.69 and its 200 day moving average price is $5.08.
Wall Street Analyst Weigh In
ANNX has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Annexon in a research note on Monday, April 20th. Finally, Chardan Capital reiterated a “buy” rating and set a $16.00 price target on shares of Annexon in a research note on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.00.
Read Our Latest Stock Report on Annexon
Insider Activity
In related news, Director William H. Carson acquired 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average price of $6.20 per share, with a total value of $49,600.00. Following the completion of the acquisition, the director owned 70,405 shares in the company, valued at approximately $436,511. This represents a 12.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jennifer Lew sold 7,851 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.11, for a total transaction of $40,118.61. Following the sale, the chief financial officer directly owned 113,765 shares in the company, valued at approximately $581,339.15. This represents a 6.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,513 shares of company stock valued at $165,973 in the last quarter. Insiders own 11.87% of the company’s stock.
Institutional Trading of Annexon
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Annexon by 8.7% during the third quarter. Vanguard Group Inc. now owns 5,835,112 shares of the company’s stock worth $17,797,000 after buying an additional 469,073 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Annexon by 266.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,500,000 shares of the company’s stock worth $27,610,000 after buying an additional 4,000,000 shares in the last quarter. State Street Corp lifted its holdings in shares of Annexon by 126.9% in the fourth quarter. State Street Corp now owns 4,652,185 shares of the company’s stock valued at $23,354,000 after purchasing an additional 2,601,877 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Annexon by 154.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,299,256 shares of the company’s stock valued at $16,562,000 after purchasing an additional 2,001,996 shares in the last quarter. Finally, Mak Capital One LLC purchased a new stake in shares of Annexon in the fourth quarter valued at about $14,852,000.
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.