Annexon Biosciences, Inc. (ANNX)
NASDAQ:ANNX
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Annexon Biosciences
(NASDAQ:ANNX)
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Rating:47Neutral
Price Target:
$5.00
▼(-23.55% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily held down by weak financial performance driven by a pre-revenue model, large net losses, and accelerating cash burn that raises funding risk. Technicals are mixed with modest near-term weakness and no strong momentum signal, while valuation is constrained by negative earnings and no dividend support.
Positive Factors
C1q-focused pipeline
Annexon's lead programs target C1q, the initiating protein of the classical complement cascade. A focused, mechanism-driven pipeline creates potential for first-in-class therapies in neurodegenerative and autoimmune diseases, offering a durable scientific moat and differentiated clinical rationale if trials succeed.
Negative Factors
Pre-revenue and large net losses
As a pre-revenue company, Annexon lacks operating cash inflows from product sales and posts substantial recurring losses. Dependence on external financing to sustain R&D increases dilution and execution risk, making long-term investment outcomes contingent on clinical success or partnerships.
Read all positive and negative factors
Positive Factors
Negative Factors
C1q-focused pipeline
Annexon's lead programs target C1q, the initiating protein of the classical complement cascade. A focused, mechanism-driven pipeline creates potential for first-in-class therapies in neurodegenerative and autoimmune diseases, offering a durable scientific moat and differentiated clinical rationale if trials succeed.
Read all positive factors
Annexon Biosciences (ANNX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$888.03M
Dividend YieldN/A
Average Volume (3M)2.20M
Price to Earnings (P/E)―
Beta (1Y)1.64
Revenue GrowthN/A
EPS Growth-3.74%
CountryUS
Employees106
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.22
Shares Outstanding163,842,540
10 Day Avg. Volume2,604,081
30 Day Avg. Volume2,200,384
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)3.68
Price to Sales (P/S)0.00
P/FCF Ratio-4.18
Enterprise Value/Market Cap0.56
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-177.13
Enterprise Value/Ebitda-2.49
Forecast
1Y Price Target
$14.00Price Target Upside114.07% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-0.97
Revenue Forecast (FY)N/A
Annexon Biosciences Business Overview & Revenue Model
Company Description
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 target...
How the Company Makes Money
As a clinical-stage biotechnology company, Annexon has not established recurring product sales in the publicly available information and its revenue model is primarily based on financing and, where applicable, collaboration-related income rather t...
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 | -2.81M | -3.69M | -3.45M | 0.00 | 0.00 | 0.00 |
| EBITDA | -199.90M | -213.76M | -134.75M | -141.57M | -143.45M | -128.57M |
| 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
Neutral
6.54
Price Trends
5.64
Negative
5.68
Negative
4.53
Positive
Market Momentum
-0.11
Negative
47.76
Neutral
69.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANNX, the sentiment is Neutral. The current price of 6.54 is above the 20-day moving average (MA) of 5.43, above the 50-day MA of 5.64, and above the 200-day MA of 4.53, indicating a neutral trend. The MACD of -0.11 indicates Negative momentum. The RSI at 47.76 is Neutral, neither overbought nor oversold. The STOCH value of 69.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $888.03M | -5.36 | -101.19% | ― | ― | -3.74% | |
46 Neutral | $338.76M | -3.11 | -677.38% | ― | 7.97% | 59.82% | |
46 Neutral | $342.78M | -1.50 | -181.70% | ― | ― | 17.61% | |
42 Neutral | $105.56M | -3.86 | >-0.01% | ― | ― | 53.00% | |
42 Neutral | $239.81M | -1.91 | -295.17% | ― | -79.15% | 5.68% | |
41 Neutral | $165.96M | -6.31 | 21.05% | ― | ― | 43.38% |
* Healthcare Sector Average
ANNX
Annexon Biosciences
5.42
3.30
155.66%
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2.52
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ALDX
Aldeyra Therapeutics
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EDIT
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3.46
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95.48%
ALEC
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2.16
0.78
56.52%
NMRA
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1.85
1.10
146.67%
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.