Annexon Biosciences (ANNX)
NASDAQ:ANNX
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Annexon Biosciences
(NASDAQ:ANNX)
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Rating:49Neutral
Price Target:
$6.00
▲(3.45% Upside)
Action:ReiteratedDate:03/31/26
ANNX scores below average primarily due to very weak financial performance (pre-revenue, widening losses, and accelerating cash burn) that drives ongoing financing/dilution risk. Technicals are mixed with soft near-term momentum, while positive corporate milestones and stated runway into late 2027 provide a meaningful but not fully offsetting support.
Positive Factors
Differentiated C1q platform & late-stage pipeline
Annexon’s focused C1q-inhibition platform and multiple late-stage programs (Phase 3 vonaprument; tanruprubart with EU filing activity) create durable optionality. Multiple registrational assets lower single-drug binary risk and position the company for regulatory value creation over months to years.
Negative Factors
Pre-revenue status
Annexon remains pre-revenue, meaning all value depends on successful clinical development, approvals, or partner deals. Without product sales, the company must continually access capital markets or partnerships to fund operations, making long-term sustainability contingent on clinical and regulatory success.
Read all positive and negative factors
Positive Factors
Negative Factors
Differentiated C1q platform & late-stage pipeline
Annexon’s focused C1q-inhibition platform and multiple late-stage programs (Phase 3 vonaprument; tanruprubart with EU filing activity) create durable optionality. Multiple registrational assets lower single-drug binary risk and position the company for regulatory value creation over months to years.
Read all positive factors
Annexon Biosciences (ANNX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$932.36M
Dividend YieldN/A
Average Volume (3M)2.80M
Price to Earnings (P/E)―
Beta (1Y)1.71
Revenue GrowthN/A
EPS Growth-35.62%
CountryUS
Employees106
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.28
Shares Outstanding160,474,330
10 Day Avg. Volume2,449,009
30 Day Avg. Volume2,797,316
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 Cap0.60
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-300.38
Enterprise Value/Ebitda-2.64
Forecast
1Y Price Target
$15.40Price Target Upside165.52% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-1.08
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
58
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -3.69M | -3.45M | 0.00 | 0.00 | 0.00 |
| EBITDA | -213.76M | -134.75M | -141.57M | -143.45M | -128.57M |
| Net Income | -206.69M | -138.20M | -134.24M | -141.95M | -130.32M |
Balance Sheet | |||||
| Total Assets | 277.57M | 350.07M | 297.67M | 285.10M | 287.04M |
| Cash, Cash Equivalents and Short-Term Investments | 238.34M | 312.02M | 259.72M | 242.66M | 242.72M |
| Total Debt | 26.20M | 28.97M | 31.36M | 32.86M | 34.59M |
| Total Liabilities | 65.92M | 56.97M | 47.12M | 53.90M | 55.13M |
| Stockholders Equity | 211.65M | 293.11M | 250.56M | 231.19M | 231.91M |
Cash Flow | |||||
| Free Cash Flow | -186.49M | -118.02M | -121.33M | -122.83M | -107.76M |
| Operating Cash Flow | -186.36M | -118.01M | -121.14M | -116.31M | -106.11M |
| Investing Cash Flow | 190.05M | -218.80M | 70.70M | 58.44M | -88.24M |
| Financing Cash Flow | 108.86M | 161.21M | 135.52M | 122.91M | 1.79M |
Annexon Biosciences Technical Analysis
Positive
5.80
Price Trends
5.51
Positive
5.33
Positive
4.00
Positive
Market Momentum
0.12
Negative
54.19
Neutral
68.44
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 5.8 is above the 20-day moving average (MA) of 5.52, above the 50-day MA of 5.51, and above the 200-day MA of 4.00, indicating a bullish trend. The MACD of 0.12 indicates Negative momentum. The RSI at 54.19 is Neutral, neither overbought nor oversold. The STOCH value of 68.44 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 |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $257.14M | -1.12 | -224.96% | ― | 12.26% | 37.36% | |
49 Neutral | $932.36M | -4.03 | -101.33% | ― | ― | -35.62% | |
45 Neutral | $313.19M | -1.14 | -523.29% | ― | -24.90% | 7.19% | |
44 Neutral | $375.00M | -1.23 | -113.81% | ― | ― | 20.71% | |
43 Neutral | $154.69M | -8.62 | 25.65% | ― | ― | 18.82% | |
41 Neutral | $108.33M | -9.19 | -63.75% | ― | ― | 4.23% |
* Healthcare Sector Average
ANNX
Annexon Biosciences
5.80
4.26
276.62%
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2.47
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84.33%
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Aldeyra Therapeutics
1.79
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EDIT
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3.39
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151.11%
ALEC
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2.41
1.33
123.15%
NMRA
Neumora Therapeutics, Inc.
2.03
1.37
207.58%
Annexon Biosciences Corporate Events
Executive/Board ChangesShareholder Meetings
Annexon Biosciences Announces Planned Retirement of Board Chairman
Neutral
Feb 17, 2026
On February 12, 2026, Annexon, Inc. announced that Chairman of the Board Thomas G. Wiggans will retire from the board and not stand for reelection at the company’s 2026 annual meeting of stockholders, at which time his current term as direct...
Business Operations and Strategy
Annexon Highlights Late-Stage C1q Pipeline and 2026 Outlook
Positive
Jan 14, 2026
On January 14, 2026, Annexon updated its corporate presentation ahead of the 44th Annual J.P. Morgan Healthcare Conference, highlighting 2026 as a pivotal year driven by multiple late-stage assets in neuroinflammatory diseases and reinforcing its ...
Business Operations and StrategyProduct-Related Announcements
Annexon Biosciences outlines pivotal 2026 milestones and outlook
Positive
Jan 12, 2026
On January 12, 2026, Annexon outlined 2026 as a pivotal year, detailing registrational milestones across its lead assets and emphasizing a balance sheet that funds operations into late 2027. The company highlighted vonaprument, a neuroprotective t...
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.