AC Immune SA Common Stock (ACIU)

FairStock Score: 30/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business. AC Immune is a 90-employee clinical-stage biopharmaceutical company using its SupraAntigen and Morphomer platforms to target misfolded proteins in neurodegenerative disease. That is scientifically ambitious, but I see no proven economic moat. Its value rests on patents, trial outcomes, and regulatory luck, not on durable pricing power or recurring cash generation. The financials are mixed. On the 2026-10-13 close of $2.40, the market cap is $306.3 million. FairStock's trailing P/E is -4.62, so there are no earnings to anchor valuation. FairStock's P/B is 5.58; its ROE is -78.53% and ROCE is -16.04%. FairStock's FCF yield is -22.9% on trailing free cash flow of -$70.2 million; that is heavy cash burn for a company this size. The debt-to-equity ratio of 0.12 is low, which helps, but FairStock's Altman Z-Score of -2.53 points to financial stress. Its Piotroski F-Score of 6/9 is mediocre, and the FairStock Score is 30/100. The latest reported quarter, the 2026 second quarter, showed $15.1 million of revenue, $1.9 million of net income, and a 12.40% margin. That is a positive sign, but with only 0 years of filed annual results under the Lynch rules, I cannot call this a durable growth record. Revenue can be lumpy for a clinical-stage company. At around $2.40, near the low end of the 52-week $2.10-$4.00 range, the market is pricing uncertainty. I would want a much larger margin of safety and evidence of sustained cash generation before calling it a value opportunity.

In plain English: AC Immune is a small drug research company focused on brain diseases such as Alzheimer's. It is mostly unprofitable and burns cash, although the latest reported quarter showed a small profit. At $2.40 a share, its market value is about $306 million, which looks speculative rather than a clear bargain based on its weak profits and cash burn.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer