(ANNX) Annexon - Overview
Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 826m USD | Total Return: 157.8% in 12m
Avg Turnover: 12.5M
Qual. Beats: 1
Qual. Beats: 0
Warnings
Share dilution 31.1% YoY
Altman Z'' -15.00 < 1.0 - financial distress zone
Tailwinds
Leader, Confidence
Annexon Inc. (ANNX) is a clinical-stage biopharmaceutical company focused on developing therapies for complement-mediated inflammatory diseases. Its primary focus is the classical complement pathway, specifically targeting the C1q protein to inhibit neuroinflammation and tissue damage. The biotechnology sector often involves high research and development costs with long lead times before potential commercialization.
The company’s lead candidate, Tanruprubart, is currently in Phase 3 trials for Guillain-Barré syndrome and has completed Phase 2 trials for Huntington’s disease. Additional pipeline assets include ANX007, an antigen-binding fragment in Phase 3 for geographic atrophy, and ANX1502, an oral small molecule for autoimmune indications. Biopharmaceutical firms frequently utilize a diverse pipeline of monoclonal antibodies and small molecules to mitigate the clinical risks inherent in drug development.
Investors may find more detailed fundamental analysis and valuation metrics on ValueRay. Founded in 2011 and based in Brisbane, California, Annexon continues to advance its clinical programs across neurology, ophthalmology, and immunology.
- FDA approval timeline for Tanruprubart in Guillain-Barré syndrome impacts valuation
- Phase 3 clinical data for ANX007 in geographic atrophy determines market entry
- Research and development expenses sustain high cash burn rate through 2025
- Expansion of C1q-blocking pipeline into larger autoimmune indications drives growth
- Competitive pressure from established complement inhibitor therapies affects market share potential
| Net Income: error (cannot be calculated; needs Net Income TTM and Revenue TTM) |
| FCF/TA: -0.70 > 0.02 and ΔFCF/TA -23.51 > 1.0 |
| NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA -0.70 > 3% & CFO -183.1m > Net Income -196.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 6.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (194.2m) vs 12m ago 31.12% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 0.0% > 50% (prev 1.12%; Δ -1.12% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
| A: 0.73 (Total Current Assets 228.3m - Total Current Liabilities 35.9m) / Total Assets 262.9m |
| B: -3.66 (Retained Earnings -961.5m / Total Assets 262.9m) |
| C: -0.72 (EBIT TTM -203.0m / Avg Total Assets 283.0m) |
| D: -16.48 (Book Value of Equity -961.5m / Total Liabilities 58.4m) |
| Altman-Z'' = -29.24 = D |
As of May 24, 2026, the stock is trading at USD 5.31 with a total of 2,142,479 shares traded.
Over the past week, the price has changed by +1.92%,
over one month by -15.18%,
over three months by +8.59% and
over the past year by +157.77%.
Annexon has received a consensus analysts rating of 4.63. Therefore, it is recommended to buy ANNX.
- StrongBuy: 5
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 13.1 | 147.3% |
Revenue TTM = 0.0 USD
EBIT TTM = -203.0m USD
EBITDA TTM = -199.9m USD
Long Term Debt = 22.4m USD (estimated: total debt 25.4m - short term 3.02m)
Short Term Debt = 3.02m USD (from shortTermDebt, last quarter)
Debt = 25.4m USD (from shortLongTermDebtTotal, last quarter) (leases 25.4m already included)
Net Debt = -199.6m USD (calculated: Debt 25.4m - CCE 225.0m)
Enterprise Value = 626.2m USD (825.8m + Debt 25.4m - CCE 225.0m)
Interest Coverage Ratio = unknown (Ebit TTM -203.0m / Interest Expense TTM 0.0)
EV/FCF = -3.42x (Enterprise Value 626.2m / FCF TTM -183.2m)
FCF Yield = -29.25% (FCF TTM -183.2m / Enterprise Value 626.2m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 3.69m) / Revenue TTM)
Tobins Q-Ratio = 2.38 (Enterprise Value 626.2m / Total Assets 262.9m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 25.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -160.3m (EBIT -203.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 6.35 (Total Current Assets 228.3m / Total Current Liabilities 35.9m)
Debt / Equity = 0.12 (Debt 25.4m / totalStockholderEquity, last quarter 204.5m)
Debt / EBITDA = 1.00 (negative EBITDA) (Net Debt -199.6m / EBITDA -199.9m)
Debt / FCF = 1.09 (negative FCF - burning cash) (Net Debt -199.6m / FCF TTM -183.2m)
Total Stockholder Equity = 194.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -69.44% (Net Income -196.5m / Total Assets 262.9m)
RoE = -17.00% (Net Income TTM -196.5m / Total Stockholder Equity 1.16b)
RoCE = -17.23% (EBIT -203.0m / Capital Employed (Equity 1.16b + L.T.Debt 22.4m))
RoIC = -87.24% (negative operating profit) (NOPAT -160.3m / Invested Capital 183.8m)
WACC = 10.42% (E(825.8m)/V(851.2m) * Re(10.74%) + D(25.4m)/V(851.2m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 10.74% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 49.81%
[DCF] Fair Price = unknown (Cash Flow -183.2m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.93 | # QB: 1
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: 0.0 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.24 | Chg30d=+20.57% | Revisions=+50% | Analysts=6
EPS next Quarter (2026-09-30): EPS=-0.25 | Chg30d=+11.11% | Revisions=+50% | Analysts=6
EPS current Year (2026-12-31): EPS=-0.98 | Chg30d=+15.53% | Revisions=+50% | GrowthEPS=+26.7% | GrowthRev=+0.0%
EPS next Year (2027-12-31): EPS=-0.92 | Chg30d=+3.46% | Revisions=+25% | GrowthEPS=+6.0% | GrowthRev=+0.0%
[Analyst] Revisions Ratio: +50%