Annexon (NASDAQ:ANNX) Issues Earnings Results

Annexon (NASDAQ:ANNXGet Rating) announced its quarterly earnings data on Monday. The company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.08, MarketWatch Earnings reports. The company had revenue of $32.00 million for the quarter. During the same period in the prior year, the business posted ($0.68) earnings per share. Annexon’s quarterly revenue was up 166.7% on a year-over-year basis.

Shares of ANNX opened at $2.60 on Tuesday. The company has a market capitalization of $100.27 million, a P/E ratio of -0.76 and a beta of 0.83. The stock has a fifty day moving average of $3.13. Annexon has a 52-week low of $2.06 and a 52-week high of $24.85.

In other Annexon news, CEO Douglas Love bought 60,000 shares of the firm’s stock in a transaction dated Thursday, April 14th. The stock was acquired at an average cost of $2.45 per share, for a total transaction of $147,000.00. Following the completion of the transaction, the chief executive officer now owns 200,942 shares in the company, valued at $492,307.90. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 7.90% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC lifted its position in shares of Annexon by 414.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 32,266 shares of the company’s stock worth $371,000 after purchasing an additional 25,994 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Annexon during the fourth quarter valued at $329,000. Invesco Ltd. purchased a new position in shares of Annexon during the second quarter valued at $265,000. Bank of America Corp DE increased its stake in shares of Annexon by 15.5% during the second quarter. Bank of America Corp DE now owns 10,768 shares of the company’s stock valued at $243,000 after buying an additional 1,444 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Annexon during the third quarter valued at $205,000.

A number of research analysts recently weighed in on ANNX shares. Zacks Investment Research lowered shares of Annexon from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Needham & Company LLC cut their target price on shares of Annexon from $37.00 to $24.00 and set a “buy” rating for the company in a report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $35.75.

About Annexon (Get Rating)

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.

See Also

Earnings History for Annexon (NASDAQ:ANNX)

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