AC Immune SA (ACIU) AI Stock Analysis

• Market Cap: $210.75M
• Dividend Yield: N/A
• Average Volume (3M): 143.82K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: 91.44%
• EPS Growth: 18.94%
• Country: US
• Employees: 133
• Sector: Healthcare
• Sector Strength: 41
• Industry: Biotechnology
• EPS (TTM): -0.26
• Shares Outstanding: 98,943,130
• 10 Day Avg. Volume: 133,869
• 30 Day Avg. Volume: 143,819
• 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: 0.24
• Enterprise Value/Revenue: 1.79
• Enterprise Value/Gross Profit: 4.55
• Enterprise Value/Ebitda: -1.02
• 1Y Price Target: $7.67
• Price Target Upside: 260.09% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 51 Neutral
• Price Target: $2.00 ▼(-6.10% Downside)

AC Immune SA's stock score is primarily driven by its financial performance, which shows potential but is hampered by ongoing net losses and volatility. Technical analysis provides a moderately positive outlook, while valuation concerns due to negative earnings weigh heavily on the score.

Positive Factors

Analyst Recommendation

Analyst maintains an Outperform recommendation, indicating confidence in the company's future performance and growth potential.

Pipeline Progress

The company continues to advance its early-stage pipeline, including IND filing for ACI-19764 and initiation of IND-enabling studies for morphomer inhibitors.

Vaccine Development

The ongoing P1b/2 ABATE study of ACI-24.060 reports promising safety profile results, which could make the approach best in class.

Negative Factors

Funding Concerns

The company ended 1Q25 with CHF 146M in cash, which should provide funding into 1Q27.

Price Target Adjustment

The discount rate update across coverage to better reflect the current macro environment for Smid-cap biotech companies lowers the price target from $16 to $12.

AC Immune SA Business Overview & Revenue Model

Company Description

AC Immune SA (ACIU) is a biopharmaceutical company focused on developing innovative therapies for neurodegenerative diseases, particularly Alzheimer's disease. Established in 2003 and headquartered in Lausanne, Switzerland, the company operates primarily in the biotechnology sector. AC Immune's core products include a portfolio of immunotherapies and diagnostics aimed at targeting misfolded proteins, which play a critical role in the pathogenesis of neurodegenerative disorders. The company leverages its proprietary technologies, including its unique antibody and vaccine platforms, to advance its pipeline of drug candidates.

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 increasing revenues and improved cash flow management. However, persistent net losses and financial volatility pose risks. The balance sheet is stable with a strong equity position, but the company must address profitability challenges.

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	28.30M	27.31M	14.80M	3.94M	0.00	15.43M
Gross Profit	11.16M	27.31M	-39.80M	-56.40M	-62.28M	-44.06M
EBITDA	-49.71M	-48.62M	-51.83M	-69.05M	-77.11M	-61.26M
Net Income	-52.08M	-50.92M	-54.23M	-70.75M	-73.00M	-62.10M
Balance Sheet
Total Assets	211.08M	230.91M	182.81M	185.94M	261.44M	238.74M
Cash, Cash Equivalents and Short-Term Investments	145.61M	165.49M	103.05M	122.59M	198.22M	225.89M
Total Debt	5.17M	5.43M	3.50M	2.80M	2.91M	2.22M
Total Liabilities	116.28M	118.64M	22.17M	16.95M	29.46M	23.26M
Stockholders Equity	94.80M	112.27M	160.64M	168.99M	231.98M	215.48M
Cash Flow
Free Cash Flow	45.31M	65.27M	-61.21M	-74.81M	-68.32M	-61.22M
Operating Cash Flow	46.00M	65.84M	-60.41M	-73.57M	-65.69M	-59.52M
Investing Cash Flow	-78.70M	-105.29M	65.64M	23.76M	-53.66M	28.33M
Financing Cash Flow	-690.00K	-1.12M	43.25M	-1.35M	40.75M	-803.00K

AC Immune SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.13
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• 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 Negative. The current price of 2.13 is below the 20-day moving average (MA) of 2.22, above the 50-day MA of 2.10, and below the 200-day MA of 2.35, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 48.81 is Neutral, neither overbought nor oversold. The STOCH value of 26.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ACIU.

AC Immune SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IPHA	58 Neutral	$208.44M	―	-160.99%	―	-75.67%	-552.37%
NBTX	56 Neutral	$378.63M	―	2152.93%	―	―	―
Sector *	51 Neutral	$7.46B	-0.25	-46.00%	2.25%	22.77%	-2.14%
ACIU	51 Neutral	$210.75M	―	-50.57%	―	91.44%	18.94%
SGMO	46 Neutral	$162.92M	―	-298.41%	―	565.52%	79.44%
IKT	46 Neutral	$127.12M	―	-97.49%	―	-100.00%	51.51%
MOLN	41 Neutral	$145.53M	―	-40.40%	―	-67.23%	4.11%