AC Immune SA (ACIU) AI Stock Analysis

• Market Cap: $274.07M
• Dividend Yield: N/A
• Average Volume (3M): 311.26K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.48
• Revenue Growth: -89.01%
• EPS Growth: -86.17%
• Country: US
• Employees: 133
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.16
• Shares Outstanding: 98,943,130
• 10 Day Avg. Volume: 212,597
• 30 Day Avg. Volume: 311,265
• PEG Ratio: 0.24
• Price to Book (P/B): 2.18
• Price to Sales (P/S): 8.95
• P/FCF Ratio: 3.74
• Enterprise Value/Market Cap: 0.59
• Enterprise Value/Revenue: 36.85
• Enterprise Value/Gross Profit: 36.85
• Enterprise Value/Ebitda: -2.31
• 1Y Price Target: $10.00
• Price Target Upside: 250.88% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -0.93
• Revenue Forecast (FY): $4.98M

• Rating: 46 Neutral
• Price Target: $3.00 ▲(5.26% Upside)

AC Immune SA's stock score is primarily impacted by its financial performance, which shows potential but is hindered by ongoing net losses and volatility. Technical analysis indicates a bearish trend with weak momentum, while valuation metrics are unfavorable due to negative earnings. The absence of earnings call insights and corporate events means these factors do not influence the score.

Positive Factors

Revenue Growth

The company has demonstrated significant revenue growth, indicating strong market demand for its products and potential for future expansion.

Strategic Partnerships

Strategic partnerships provide a stable revenue stream and access to resources, enhancing the company's ability to develop and commercialize its drug candidates.

Operational Efficiency

The strategic focus and workforce reduction aim to enhance operational efficiency, potentially extending the cash runway and supporting long-term sustainability.

Negative Factors

Profitability Challenges

Ongoing profitability challenges with negative net income and EBIT margins may hinder financial stability and limit reinvestment opportunities.

Rising Operating Expenses

High operating expenses contribute to net losses, which could strain financial resources and impact the company's ability to fund future growth initiatives.

Financial Volatility

Financial volatility, including fluctuating revenues and cash flow, could challenge the company's ability to maintain consistent growth and investor confidence.

AC Immune SA Business Overview & Revenue Model

Company Description

AC Immune SA, a clinical stage biopharmaceutical company, discovers, designs, and develops medicines and diagnostic products for the prevention and treatment of neurodegenerative diseases associated with protein misfolding. Its SupraAntigen and Morphomer platforms are designed to generate vaccines, antibodies, and small molecules, which selectively interact with misfolded proteins that are common in a range of neurodegenerative diseases. The company is developing Crenezumab, a humanized, conformation-specific monoclonal antibody, which is in Phase II clinical prevention trial for the treatment of Alzheimer's disease (AD). It is also developing ACI-24, an anti-Abeta vaccine candidate that is in Phase II clinical study for AD, as well as completed Phase Ib clinical study for Down syndrome; ACI-35, an anti-Tau vaccine candidate that has completed Phase Ib clinical study; and Tau- positron emission tomography (PET) imaging tracer, which is in Phase II clinical study. In addition, the company is researching and developing small molecule Tau aggregation inhibitors for AD and NeuroOrphan indications. Further, it has discovery and preclinical stage molecules targeting range of neurodegenerative diseases, which include diagnostics targeting TDP-43, alpha-synuclein, and NLRP3. AC Immune SA has license agreements and collaborations with Genentech, Inc.; Biogen International GmbH; Janssen Pharmaceuticals, Inc.; Life Molecular Imaging SA; Eli Lilly and Company; and WuXi Biologics. The company was incorporated in 2003 and is headquartered in Lausanne, Switzerland.

How the Company Makes Money

AC Immune generates revenue primarily through strategic partnerships and collaborations with larger pharmaceutical companies, which provide funding for the development of its drug candidates. These partnerships often include milestone payments, royalties on future sales, and upfront payments that contribute to the company's earnings. Additionally, AC Immune may receive revenue from licensing agreements related to its proprietary technologies. The company is also focused on advancing its own drug candidates through clinical trials, which, upon successful development and regulatory approval, can lead to significant sales revenue from these therapies in the market.

AC Immune SA Financial Statement Overview

Summary

AC Immune SA shows potential with increasing revenues and efficient cash flow management in the latest period. However, consistent profitability remains a challenge. The balance sheet is stable, with a strong equity position, but operational and financial volatility may pose risks. The company must address net losses and leverage its positive cash flow trends to ensure long-term viability.

Income Statement

The company's revenue has shown significant volatility, with revenue increasing from 2022 to 2024. However, profitability remains a concern with negative net income and EBIT margins. The gross profit margin is positive in 2024, indicating some operational efficiency improvement, but net losses persist.

Balance Sheet

AC Immune SA maintains a strong equity base relative to its assets, with a manageable debt-to-equity ratio. However, the company has been accumulating net losses, affecting its return on equity. The equity ratio is healthy, indicating stability in capital structure.

Cash Flow

The cash flow situation shows improvement with a large positive free cash flow in 2024, albeit following a negative trend in prior years. The operating cash flow to net income ratio reflects better cash management, though sustainability remains a question due to historical volatility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.37M	27.31M	14.80M	3.94M	0.00	15.43M
Gross Profit	4.37M	-35.26M	-39.80M	3.94M	0.00	-44.06M
EBITDA	-69.63M	-48.62M	-51.83M	-68.03M	-70.01M	-59.73M
Net Income	-71.87M	-50.92M	-54.23M	-70.75M	-73.00M	-61.92M
Balance Sheet
Total Assets	171.61M	230.91M	182.81M	185.94M	261.44M	238.74M
Cash, Cash Equivalents and Short-Term Investments	108.47M	165.49M	103.05M	122.59M	198.22M	225.89M
Total Debt	4.66M	5.43M	3.50M	2.80M	2.91M	2.22M
Total Liabilities	109.16M	118.64M	22.17M	16.95M	29.46M	23.26M
Stockholders Equity	62.44M	112.27M	160.64M	168.99M	231.98M	215.48M
Cash Flow
Free Cash Flow	-47.70M	65.27M	-61.21M	-74.81M	-68.32M	-61.22M
Operating Cash Flow	-46.82M	65.84M	-60.41M	-73.57M	-65.69M	-59.52M
Investing Cash Flow	43.71M	-105.29M	65.64M	23.76M	-53.66M	28.33M
Financing Cash Flow	-956.00K	-1.12M	43.25M	-1.35M	40.75M	-803.00K

AC Immune SA Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.85
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACIU, the sentiment is Neutral. The current price of 2.85 is below the 20-day moving average (MA) of 3.11, below the 50-day MA of 3.17, and above the 200-day MA of 2.32, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 43.30 is Neutral, neither overbought nor oversold. The STOCH value of 20.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ACIU.

AC Immune SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FHTX	47 Neutral	$199.55M	-2.85	―	―	-3.91%	37.89%
ACIU	46 Neutral	$274.07M	―	-72.72%	―	-89.01%	-86.17%
ALEC	45 Neutral	$124.43M	―	-121.98%	―	12.26%	37.36%
MLTX	41 Neutral	$893.60M	―	-54.17%	―	―	-157.74%
EDIT	41 Neutral	$205.98M	―	-211.37%	―	-24.90%	7.19%
VOR	33 Underperform	$164.99M	―	―	―	―	-1072.48%

AC Immune SA Corporate Events

AC Immune SA Reports Decline in Q3 2025 Financial Results

On November 4, 2025, AC Immune SA released its interim financial results for the three and nine months ending September 30, 2025. The report highlighted a significant decline in revenue compared to the previous year, with the company experiencing a loss for the period. This financial performance reflects ongoing challenges in the biopharmaceutical industry, impacting the company’s market position and stakeholder confidence.

AC Immune SA Announces Strategic Focus and Workforce Reduction

On September 4, 2025, AC Immune SA announced a strategic shift to focus on its key assets, including three clinical-stage active immunotherapy programs and promising small molecule programs targeting NLRP3 and Tau. This decision, following an executive management review, involves a 30% workforce reduction and is expected to extend the company’s cash runway to the end of Q3 2027. The move aims to enhance operational efficiency and maintain progress on clinical milestones, while also supporting affected employees through severance packages and job-seeking assistance.