Annexon (NASDAQ:ANNX) Releases Quarterly Earnings Results, Meets Estimates

Annexon (NASDAQ:ANNX) posted its quarterly earnings results on Monday. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.23), Yahoo Finance reports.

Annexon Stock Performance

Shares of ANNX traded down $0.20 during midday trading on Wednesday, hitting $5.48. 203,079 shares of the company traded hands, compared to its average volume of 2,037,556. The stock has a market cap of $506.42 million, a price-to-earnings ratio of -3.73 and a beta of 1.29. The firm has a 50 day moving average of $5.53 and a 200-day moving average of $5.37. Annexon has a 52 week low of $1.57 and a 52 week high of $8.40.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANNX. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Annexon in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Annexon in a research note on Tuesday. Wells Fargo & Company cut their target price on shares of Annexon from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Annexon in a research report on Wednesday, June 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.33.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.