Annexon (NASDAQ:ANNX) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Annexon reported Q results with an EPS of ($0.23), beating the consensus estimate of ($0.30) by $0.07.
• The stock traded at $5.52 (down $0.18) with a market cap of about $897M, while analysts' consensus target is $17.00 and the consensus rating is "Moderate Buy" (five Buys, one Hold, one Sell).
• Company insiders sold a total of 32,513 shares (~$165,973) last quarter, though insiders still own 11.87% of the company.

Annexon (NASDAQ:ANNX - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.07, FiscalAI reports.

Annexon Stock Performance

NASDAQ ANNX traded down $0.18 during trading on Thursday, reaching $5.52. The company's stock had a trading volume of 2,357,564 shares, compared to its average volume of 2,106,709. The firm has a market cap of $897.06 million, a price-to-earnings ratio of -4.06 and a beta of 1.22. Annexon has a twelve month low of $1.60 and a twelve month high of $7.18. The business's fifty day moving average price is $5.69 and its 200-day moving average price is $5.08.

Analysts Set New Price Targets

Several equities research analysts recently commented on ANNX shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a research note on Wednesday, January 14th. 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Annexon in a research note on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Annexon presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Insider Buying and Selling

In other Annexon news, EVP Ted Yednock sold 7,857 shares of Annexon stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.11, for a total value of $40,149.27. Following the transaction, the executive vice president directly owned 97,227 shares in the company, valued at approximately $496,829.97. The trade was a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Dean Richard Artis sold 5,290 shares of Annexon stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.10, for a total transaction of $26,979.00. Following the completion of the transaction, the executive vice president owned 123,487 shares in the company, valued at approximately $629,783.70. This represents a 4.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,513 shares of company stock valued at $165,973 in the last quarter. Corporate insiders own 11.87% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Landscape Capital Management L.L.C. acquired a new position in Annexon in the fourth quarter valued at $50,000. CIBC Bancorp USA Inc. acquired a new position in shares of Annexon during the third quarter worth about $31,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Annexon during the fourth quarter worth about $52,000. Engineers Gate Manager LP acquired a new position in shares of Annexon during the second quarter worth about $32,000. Finally, Cerity Partners LLC acquired a new position in shares of Annexon during the fourth quarter worth about $74,000.

About Annexon

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.

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