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NextCure
(NASDAQ:NXTC)
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Rating:45Neutral
Price Target:
$6.50
▼(-52.66% Downside)
Action:Reiterated
Date:07/15/26
The score is held down primarily by weak financial performance (no revenue, large losses, and sustained negative free cash flow) and bearish technicals (price below major moving averages with negative MACD). Corporate events improve the outlook via significant new financing and strategic repositioning, but the merger terms imply substantial dilution for current shareholders, limiting the overall uplift; valuation provides limited signal due to negative earnings and no dividend yield.
Positive Factors
Strategic merger and funding
The definitive merger and $320M concurrent financing materially alters NextCure’s capital trajectory and strategy, providing multi-stage funding for AVR‑001 and shifting the public shell to a better‑funded oral IL‑23 franchise. This is a structural recapitalization that meaningfully reduces near‑term dilution risk tied to interim financings and brings a focused development plan and external commercial optionality over the next 2–4 years.
Negative Factors
Sustained negative cash flow and losses
Persistent zero revenue and material negative operating and free cash flow (~-$50M TTM) mean the business depends on external financing or asset monetization to sustain operations. Over a 2–6 month horizon this elevates execution risk, increases likelihood of dilutive financings, and constrains strategic optionality absent completed transaction proceeds.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic merger and funding
The definitive merger and $320M concurrent financing materially alters NextCure’s capital trajectory and strategy, providing multi-stage funding for AVR‑001 and shifting the public shell to a better‑funded oral IL‑23 franchise. This is a structural recapitalization that meaningfully reduces near‑term dilution risk tied to interim financings and brings a focused development plan and external commercial optionality over the next 2–4 years.
Read all positive factors
NextCure (NXTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$24.37M
Dividend YieldN/A
Average Volume (3M)37.58K
Price to Earnings (P/E)―
Beta (1Y)0.58
Revenue GrowthN/A
EPS Growth10.17%
CountryUS
Employees40
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-19.07
Shares Outstanding4,068,951
10 Day Avg. Volume95,061
30 Day Avg. Volume37,578
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.15
Price to Sales (P/S)0.00
P/FCF Ratio-0.81
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
$20.00Price Target Upside45.67% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-7.14
Revenue Forecast (FY)N/A
NextCure Business Overview & Revenue Model
Company Description
NextCure, Inc. is a clinical-stage biopharmaceutical firm dedicated to discovering and advancing innovative immunotherapies. Its core mission is to combat cancer and various other immune-related conditions by reactivating normal immune system func...
How the Company Makes Money
NextCure’s revenue model is typical of a clinical-stage biotechnology company: it is primarily funded through financing activities (such as issuing equity and related capital markets transactions) rather than recurring product sales. As a clinical...
NextCure Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
22
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 | -283.00K | -2.19M | -2.87M | 0.00 | 0.00 | 0.00 |
| EBITDA | -52.85M | -53.66M | -54.34M | -59.04M | -70.61M | -65.14M |
| Net Income | -54.66M | -55.84M | -55.65M | -62.72M | -74.73M | -69.39M |
Balance Sheet | ||||||
| Total Assets | 37.98M | 50.18M | 80.86M | 128.04M | 184.16M | 242.39M |
| Cash, Cash Equivalents and Short-Term Investments | 29.74M | 41.82M | 68.62M | 108.30M | 159.91M | 219.59M |
| Total Debt | 4.92M | 5.15M | 5.95M | 6.61M | 7.12M | 0.00 |
| Total Liabilities | 11.26M | 15.24M | 15.39M | 13.62M | 16.63M | 9.00M |
| Stockholders Equity | 26.72M | 34.94M | 65.47M | 114.42M | 167.53M | 233.39M |
Cash Flow | ||||||
| Free Cash Flow | -49.98M | -49.61M | -41.28M | -53.79M | -56.00M | -59.60M |
| Operating Cash Flow | -49.98M | -49.61M | -40.80M | -52.97M | -53.89M | -57.24M |
| Investing Cash Flow | 19.76M | 25.56M | 55.31M | 39.27M | 67.98M | 36.60M |
| Financing Cash Flow | 23.56M | 22.31M | 144.00K | 154.00K | 200.00K | -3.27M |
NextCure Technical Analysis
Positive
13.73
Price Trends
4.81
Positive
8.05
Negative
9.57
Negative
Market Momentum
0.39
Negative
68.85
Neutral
56.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NXTC, the sentiment is Positive. The current price of 13.73 is above the 20-day moving average (MA) of 2.75, above the 50-day MA of 4.81, and above the 200-day MA of 9.57, indicating a neutral trend. The MACD of 0.39 indicates Negative momentum. The RSI at 68.85 is Neutral, neither overbought nor oversold. The STOCH value of 56.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NXTC.
NextCure Risk Analysis
NextCure disclosed 70 risk factors in its most recent earnings report. NextCure 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
NextCure 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% | |
45 Neutral | $24.37M | -0.31 | -186.96% | ― | ― | 10.17% | |
45 Neutral | $8.83M | -0.28 | -229.48% | ― | ― | 83.72% | |
44 Neutral | $198.93M | -0.15 | 359.80% | ― | ― | -3629.03% | |
44 Neutral | $5.70M | -3.65 | -9.02% | ― | ― | ― |
* Healthcare Sector Average
NXTC
NextCure
5.99
1.01
20.28%
NERV
Minerva Neurosciences
4.27
2.33
120.10%
MTVA
MetaVia
1.71
-5.77
-77.14%
APM
Aptorum Group
0.70
-1.05
-60.00%
NextCure Corporate Events
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesM&A TransactionsPrivate Placements and Financing
NextCure Announces Transformative All-Stock Merger With Avere
Positive
Jul 15, 2026
On July 14, 2026, NextCure and privately held Avere Therapeutics agreed to an all-stock merger that will combine Avere’s differentiated oral IL-23 program with NextCure’s public listing, with the combined entity to operate as Avere The...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
NextCure Shareholders Approve Expanded Omnibus Incentive Plan
Positive
Jun 25, 2026
On June 18, 2026, NextCure stockholders approved an amendment and restatement of the company’s 2019 Omnibus Incentive Plan, adding 80,000 shares to the pool available for equity awards and revising the evergreen provision to base annual incr...
Business Operations and StrategyProduct-Related Announcements
NextCure Reports Positive SIM0505 Phase 1 Gynecologic Cancer Data
Positive
Jun 1, 2026
On June 1, 2026, NextCure reported positive Phase 1 dose-escalation data for its CDH6-targeting antibody-drug conjugate SIM0505 in heavily pretreated patients with advanced gynecologic cancers, presented at the ASCO 2026 meeting in Chicago. In ova...
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.