Annexon Valuation

Is ANNX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ANNX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate ANNX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ANNX's fair value for valuation analysis.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for ANNX?

Key metric: As ANNX is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ANNX. This is calculated by dividing ANNX's market cap by their current book value.
What is ANNX's PB Ratio?
PB Ratio1.7x
BookUS$331.56m
Market CapUS$563.88m

Price to Book Ratio vs Peers

How does ANNX's PB Ratio compare to its peers?

The above table shows the PB ratio for ANNX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average5.5x
GRAL GRAIL
0.2x35.7%US$588.7m
TALS Talaris Therapeutics
3.7xn/aUS$553.2m
FREQ Frequency Therapeutics
14.9x-4.7%US$547.3m
SVRA Savara
3x52.5%US$593.8m
ANNX Annexon
1.7x35.6%US$563.9m

Price-To-Book vs Peers: ANNX is expensive based on its Price-To-Book Ratio (1.7x) compared to the peer average (1.6x).


Price to Book Ratio vs Industry

How does ANNX's PB Ratio compare vs other companies in the US Biotechs Industry?

59 CompaniesPrice / BookEstimated GrowthMarket Cap
GRAL GRAIL
0.2x35.7%US$588.69m
AMRN Amarin
0.4x-7.7%US$205.50m
IMAB I-Mab
0.4x1.8%US$77.18m
MGX Metagenomi
0.3x-23.2%US$75.22m
ANNX 1.7xIndustry Avg. 1.9xNo. of Companies73PB01.63.24.86.48+
59 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ANNX is good value based on its Price-To-Book Ratio (1.7x) compared to the US Biotechs industry average (1.9x).


Price to Book Ratio vs Fair Ratio

What is ANNX's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ANNX PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1.7x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ANNX's Price-To-Book Fair Ratio for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ANNX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$5.34
US$15.00
+180.9%
47.5%US$30.00US$9.00n/a6
Nov ’25US$7.28
US$15.50
+112.9%
43.7%US$30.00US$10.00n/a6
Oct ’25US$6.11
US$15.50
+153.7%
43.7%US$30.00US$10.00n/a6
Sep ’25US$5.70
US$15.50
+171.9%
43.7%US$30.00US$10.00n/a6
Aug ’25US$6.10
US$15.67
+156.8%
42.6%US$30.00US$10.00n/a6
Jul ’25US$5.05
US$15.67
+210.2%
42.6%US$30.00US$10.00n/a6
Jun ’25US$4.83
US$14.50
+200.2%
50.0%US$30.00US$10.00n/a6
May ’25US$4.75
US$15.17
+219.3%
45.7%US$30.00US$10.00n/a6
Apr ’25US$6.63
US$15.17
+128.8%
45.7%US$30.00US$10.00n/a6
Mar ’25US$5.97
US$13.75
+130.3%
57.3%US$30.00US$6.00n/a6
Feb ’25US$4.24
US$14.00
+230.2%
62.4%US$30.00US$6.00n/a5
Jan ’25US$4.54
US$13.83
+204.7%
57.7%US$30.00US$6.00n/a6
Dec ’24US$2.34
US$13.50
+476.9%
61.8%US$30.00US$4.00n/a6
Nov ’24US$2.40
US$15.60
+550.0%
63.7%US$30.00US$4.00US$7.285
Oct ’24US$2.36
US$15.60
+561.0%
63.7%US$30.00US$4.00US$6.115
Sep ’24US$2.91
US$15.60
+436.1%
63.7%US$30.00US$4.00US$5.705
Aug ’24US$3.54
US$14.14
+299.5%
65.2%US$30.00US$4.00US$6.107
Jul ’24US$3.52
US$14.07
+299.8%
66.1%US$30.00US$3.50US$5.057
Jun ’24US$3.00
US$14.00
+366.7%
67.0%US$30.00US$3.00US$4.837
May ’24US$5.45
US$18.14
+232.9%
37.8%US$30.00US$8.00US$4.757
Apr ’24US$3.85
US$18.14
+371.2%
37.8%US$30.00US$8.00US$6.637
Mar ’24US$5.11
US$18.71
+266.2%
37.3%US$30.00US$8.00US$5.977
Feb ’24US$7.20
US$18.71
+159.9%
37.3%US$30.00US$8.00US$4.247
Jan ’24US$5.17
US$18.57
+259.2%
38.8%US$30.00US$7.00US$4.547
Dec ’23US$5.52
US$18.57
+236.4%
38.8%US$30.00US$7.00US$2.347
Nov ’23US$4.72
US$18.71
+296.5%
38.7%US$30.00US$7.00US$2.407

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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