AC Immune SA

NasdaqGM:ACIU Stock Report

Market Cap: US$326.5m

AC Immune Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 ACIU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$67.19
Fair Value
94.9% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: ACIU ($3.43) is trading below our estimate of fair value ($67.19)

Significantly Below Fair Value: ACIU is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As ACIU barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ACIU. This is calculated by dividing ACIU's market cap by their current book value.
What is ACIU's PB Ratio?
PB Ratio4.4x
BookCHF 62.44m
Market CapCHF 264.55m

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for ACIU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average2.6x
CAPR Capricor Therapeutics
2.7x69.15%US$277.0m
PRQR ProQR Therapeutics
3.3x24.20%US$250.7m
PYXS Pyxis Oncology
3.5x2.73%US$241.9m
AUTL Autolus Therapeutics
1.1x50.02%US$375.3m
ACIU AC Immune
4.4x66.51%US$326.5m

Price-To-Book vs Peers: ACIU is expensive based on its Price-To-Book Ratio (4.4x) compared to the peer average (2.6x).

Price to Book Ratio vs Industry

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

58 CompaniesPrice / BookEstimated GrowthMarket Cap
NKTX Nkarta
0.4x1.69%US$139.92m
FATE Fate Therapeutics
0.5x-5.57%US$137.24m
ZNTL Zentalis Pharmaceuticals
0.4x13.87%US$95.22m
MGX Metagenomi
0.4x-16.66%US$85.95m
ACIU 4.4xIndustry Avg. 2.4xNo. of Companies79PB0246810+
58 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ACIU is expensive based on its Price-To-Book Ratio (4.4x) compared to the US Biotechs industry average (2.4x).

Price to Book Ratio vs Fair Ratio

What is ACIU'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.

ACIU PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio4.4x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ACIU'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 ACIU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$3.43
US$9.62
+180.34%
18.03%US$11.98US$7.88n/a3
Oct ’26US$3.04
US$9.78
+221.85%
18.11%US$12.20US$8.00n/a3
Sep ’26US$2.04
US$9.68
+374.58%
17.53%US$12.01US$8.02n/a3
Aug ’26US$2.12
US$9.46
+346.09%
19.18%US$12.54US$8.00n/a4
Jul ’26US$1.98
US$9.20
+364.55%
18.85%US$12.09US$7.72n/a4
Jun ’26US$1.71
US$9.20
+437.90%
18.85%US$12.09US$7.72n/a4
May ’26US$1.67
US$9.46
+466.43%
17.27%US$12.04US$7.69n/a4
Apr ’26US$1.80
US$10.05
+459.84%
34.74%US$15.99US$7.21n/a4
Mar ’26US$2.54
US$9.86
+288.34%
34.64%US$15.66US$7.03n/a4
Feb ’26US$2.75
US$9.86
+258.69%
34.64%US$15.66US$7.03n/a4
Jan ’26US$2.70
US$10.20
+277.83%
33.69%US$16.09US$7.68n/a4
Dec ’25US$3.40
US$10.15
+198.64%
33.56%US$15.99US$7.64n/a4
Nov ’25US$3.00
US$10.07
+235.73%
32.23%US$15.63US$7.83US$3.384
Oct ’25US$3.75
US$10.30
+174.54%
32.21%US$15.98US$8.00US$3.044
Sep ’25US$3.23
US$10.43
+222.82%
33.02%US$16.34US$8.01US$2.044
Aug ’25US$3.82
US$10.29
+169.42%
32.92%US$16.12US$7.98US$2.124
Jul ’25US$3.98
US$10.35
+159.96%
32.78%US$16.17US$8.01US$1.984
Jun ’25US$4.65
US$10.30
+121.56%
32.72%US$16.10US$8.01US$1.714
May ’25US$2.50
US$10.32
+312.98%
36.64%US$15.48US$6.50US$1.673
Apr ’25US$2.73
US$10.42
+281.64%
39.28%US$15.99US$6.27US$1.803
Mar ’25US$3.85
US$10.51
+173.05%
38.37%US$16.01US$6.46US$2.543
Feb ’25US$3.18
US$10.51
+230.58%
38.37%US$16.01US$6.46US$2.753
Jan ’25US$5.00
US$10.62
+112.31%
41.68%US$16.57US$5.98US$2.703
Dec ’24US$3.40
US$10.33
+203.69%
40.60%US$16.00US$6.00US$3.403
Nov ’24US$2.95
US$10.33
+250.33%
40.71%US$16.03US$5.99US$3.003
US$9.62
Fair Value
64.3% undervalued intrinsic discount
3
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/05 09:13
End of Day Share Price 2025/11/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

AC Immune SA is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Thomas ShraderBTIG
Andrew FeinH.C. Wainwright & Co.
Lucy CodringtonJefferies LLC