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Annexon Biosciences
(NASDAQ:ANNX)
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Rating:53Neutral
Price Target:
$6.50
▼(-0.61% Downside)
Action:Reiterated
Date:07/16/26
The score is primarily constrained by weak financial performance—pre-revenue status with large losses and accelerating cash burn, despite low leverage. Technicals are moderately supportive with price above major moving averages and positive MACD, while valuation is limited by negative earnings and corporate events are mixed due to increased share authorization (dilution risk).
Positive Factors
Balance sheet cushion
A meaningful equity base and very low debt provide durable financial backing for multi-year clinical programs, reducing immediate refinancing pressure relative to higher-leverage peers. This cushion increases flexibility to fund trials or negotiate partnerships before commercialization.
Negative Factors
High cash burn
Sustained, large negative operating and free cash flow indicate the company is consuming capital rapidly to fund R&D. Accelerating burn vs prior year heightens the likelihood of external financing needs within months, increasing dilution risk and constraining long-term program execution without partner support.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet cushion
A meaningful equity base and very low debt provide durable financial backing for multi-year clinical programs, reducing immediate refinancing pressure relative to higher-leverage peers. This cushion increases flexibility to fund trials or negotiate partnerships before commercialization.
Read all positive factors
Annexon Biosciences (ANNX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$909.33M
Dividend YieldN/A
Average Volume (3M)4.17M
Price to Earnings (P/E)―
Beta (1Y)1.53
Revenue GrowthN/A
EPS Growth-3.74%
CountryUS
Employees96
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.22
Shares Outstanding163,842,540
10 Day Avg. Volume4,181,414
30 Day Avg. Volume4,166,558
Financial Highlights & Ratios
PEG Ratio-0.11
Price to Book (P/B)3.68
Price to Sales (P/S)0.00
P/FCF Ratio-4.18
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$16.20Price Target Upside147.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.95
Revenue Forecast (FY)N/A
Annexon Biosciences Business Overview & Revenue Model
Company Description
Annexon, Inc. is a biopharmaceutical company currently engaged in clinical trials, dedicated to the discovery and advancement of therapies for a variety of autoimmune, neurodegenerative, and ophthalmic conditions. Central to its approach is the C1...
How the Company Makes Money
As a clinical-stage biotechnology company, Annexon has historically not relied on recurring product sales; its funding and revenue, when present, are primarily tied to research and development financing activities rather than commercial operations...
Annexon Biosciences Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.90M | -3.69M | -3.45M | 0.00 | 0.00 | 0.00 |
| EBITDA | -193.41M | -204.04M | -134.75M | -132.09M | -139.79M | -128.18M |
| Net Income | -196.48M | -206.69M | -138.20M | -134.24M | -141.95M | -130.32M |
Balance Sheet | ||||||
| Total Assets | 262.89M | 277.57M | 350.07M | 297.67M | 285.10M | 287.04M |
| Cash, Cash Equivalents and Short-Term Investments | 225.03M | 238.34M | 312.02M | 259.72M | 242.66M | 242.72M |
| Total Debt | 25.43M | 26.20M | 28.97M | 31.36M | 32.86M | 34.59M |
| Total Liabilities | 58.35M | 65.92M | 56.97M | 47.12M | 53.90M | 55.13M |
| Stockholders Equity | 204.53M | 211.65M | 293.11M | 250.56M | 231.19M | 231.91M |
Cash Flow | ||||||
| Free Cash Flow | -183.16M | -186.49M | -118.02M | -121.33M | -122.83M | -107.76M |
| Operating Cash Flow | -183.10M | -186.36M | -118.01M | -121.14M | -116.31M | -106.11M |
| Investing Cash Flow | 119.49M | 190.05M | -218.80M | 70.70M | 58.44M | -88.24M |
| Financing Cash Flow | 141.69M | 108.86M | 161.21M | 135.52M | 122.91M | 1.79M |
Annexon Biosciences Technical Analysis
Positive
6.54
Price Trends
5.39
Positive
5.52
Positive
5.00
Positive
Market Momentum
0.20
Negative
64.55
Neutral
50.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANNX, the sentiment is Positive. The current price of 6.54 is above the 20-day moving average (MA) of 5.53, above the 50-day MA of 5.39, and above the 200-day MA of 5.00, indicating a bullish trend. The MACD of 0.20 indicates Negative momentum. The RSI at 64.55 is Neutral, neither overbought nor oversold. The STOCH value of 50.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ANNX.
Annexon Biosciences Risk Analysis
Annexon Biosciences disclosed 67 risk factors in its most recent earnings report. Annexon Biosciences reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Annexon Biosciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $351.68M | -11.70 | 21.05% | ― | ― | 43.38% | |
53 Neutral | $909.33M | -5.33 | -101.19% | ― | ― | -3.74% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $484.94M | -2.48 | -677.38% | ― | 7.97% | 59.82% | |
48 Neutral | $116.42M | -4.20 | -57.34% | ― | ― | 53.00% | |
43 Neutral | $154.33M | -1.26 | -295.17% | ― | -79.15% | 5.68% | |
42 Neutral | $292.75M | -1.23 | -181.70% | ― | ― | 17.61% |
* Healthcare Sector Average
ANNX
Annexon Biosciences
6.50
4.10
170.83%
GALT
Galectin Therapeutics
4.76
1.91
67.02%
ALDX
Aldeyra Therapeutics
1.92
-3.24
-62.79%
EDIT
Editas Medicine
3.04
0.20
7.04%
ALEC
Alector
1.50
-0.06
-3.85%
NMRA
Neumora Therapeutics, Inc.
1.63
0.23
16.43%
Annexon Biosciences Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Annexon Stockholders Approve Directors, Compensation and Share Increase
Positive
Jun 12, 2026
Annexon, Inc. held its 2026 Annual Meeting of Stockholders on June 11, 2026, where shareholders elected Bettina M. Cockroft, M.D., and Douglas Love, Esq., as Class III directors to serve three-year terms expiring at the 2029 annual meeting. Shareh...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.