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Stock Ratings / Health Care / ANNX / financials
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Annexon Inc. (ANNX) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$3.94 -2.72% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $3.91

Annexon Inc. (ANNX) carries a Roarable Rating of E (Strong Sell) with 30/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE E • RED ALERT Cap $767.8M
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is ANNX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Annexon Inc. (NASDAQ: ANNX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 30/100 at a spot price of $3.94 (-2.72% 1D, market cap $767.8M). Pillar breakdown: Fundamental Cash Engine 6/20, Institutional 13F & Options Flow 6/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 5/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, ANNX ranks #790 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does ANNX compare to HELP and COLL in the Health Care sector?
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Within the Health Care sector (Biotechnology: Pharmaceutical Preparations), ANNX carries a Roarable E (30/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, HELP (Helus Pharma Inc.) holds a D+ grade (53/100 RQD, P/E N/A, ROIC —, cap $774.1M) and COLL (Collegium Pharmaceutical Inc.) posts a C- grade (59/100 RQD, P/E 12.4x, ROIC 85.0%, cap $774.8M). Among the 5-stock peer group, COLL leads on earnings multiple (12.4x) while COLL leads on capital efficiency (85.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for ANNX?
▼

Per ANNX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001528115), Annexon Inc. generated $605.9M in revenue (+40.5% YoY), -$206.7M in net income, and -$186.5M in free cash flow against $277.6M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).
INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $3.91 (-0.68%)🧬 Dilution Drag (+2.48% YoY Shares)⚙️ Cash Engine: 6/20 (E) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record Warning: Scores below 50 (30/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-9.6% avg 90D alpha vs SPY • 29.0% hit rate).
Audit Bucket Track Record →
RQD QUANT TACHOMETERRED ALERT • E
025507510030
3-of-3 JEV AI Jury Bearish Warning
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D-
Cash (6)Whales (6)SEC (10)Macro (5)CEO (3)
Each axis scored 0–20
12M PRICE TARGET CONE-12.7% Base Target
$8 Bull$3 Base$3 Bear
📬 FREE ANNX RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for ANNX)Realized 20D OHLCV Swing Band: ±12.5%
Deterministic 5-Pillar Attribution (30/100 Composite)
🔍 WHY ANNX SCORES 30/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: SEC 10-K Forensic Risk+10/20 pts (33% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 2/9

▲ #2 Bullish Driver: Cash Engine Quality+6/20 pts (20% of score)

SEC XBRL FY 2025 (10-K): 0% FCF Margin ($0 FCF) & 52% Gross Margin

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution4/20 pts (-16 pt drag)

Dilution Drag (+2.48% YoY Shares) & executive Form 4 sales trim 16 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
22
Grade E$3.83+0% Next Q
Q2 (-2Q)
25
Grade E$3.83-1.8% Next Q
Q3 (-1Q)
27
Grade E$3.76+4.8% Next Q
Current
30
Grade E$3.94-9.6% Hist 90D α
Trajectory: E (22) → E (30)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a ANNX Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While ANNX currently carries a cautious 30/100 (E) rating due to Insider Conviction & Share Dilution (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($4.16) and Max Pain ($4.14) forces dealer call-delta covering toward $7.54.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Dilution Drag (+2.48% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $ANNX• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “ANNX Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 30%NO 70%Trade / Inspect Odds →
VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How ANNX Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)
Revenue$605.9MGross Profit $315.1M (52%)Cost of Sales $290.9MOp Profit $0 (0%)OpEx (R&D/SG&A) $315.1MNet Profit$0 (0%)Tax/Other $0

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow
FY23
Rev $402.4M
FY24
Rev $431.4M
FY25
Rev $605.9M
Fiscal YearRevenueGross MarginOp MarginNet ProfitFree Cash FlowROIC %
FY 2025$605.9M52%-35.7%-$206.7M-$186.5M-45%
FY 2024$431.4M52%-35.7%-$138.2M-$118.0M-45%
FY 2023$402.4M52%-35.7%-$134.2M-$121.1M-35%
ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring ANNX)

  • ✓Walkthrough of ANNX's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
RQD INSIDER CLUB WAITLIST$49/YR PLANNED
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ANNX // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -30.76%⚡ TESTING RESISTANCE
2026-11-03O $4.01H $4.05L $3.94C $3.94VOL 2.84M
RES: $4.12SUP: $3.20SMA50: $4.16SMA200: $5.20
$6.81$5.87$4.94$4.00$3.07RES $4.12SUP $3.20$3.942026-05-042026-06-172026-08-042026-09-182026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

ANNX Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 ANNX Butterfly Map → + Track ANNX →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
8.0%/yr Implied 5Y Growth

vs. +40.5% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on ANNX today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for ANNX. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for ANNX today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (ANNX)

Health Care Rank #790 of 1015 ⚔️ HELP vs ANNX Full Matrix →

1. Head-to-Head Health Care Peer Comparison (ANNX vs. HELP, COLL, ARDX, AVBP)

Industry: Biotechnology: Pharmaceutical Preparations (489 Tracked Issuers)

Across 1015 tracked Health Care securities in the Roarable RQD universe, Annexon Inc. (ANNX) ranks #790 by composite RQD confidence (30/100, grade E) and #387 by equity capitalization ($767.8M). Within this direct 5-issuer industry benchmark cohort, COLL leads on earnings valuation at 12.4x trailing P/E, while COLL leads on capital efficiency and profitability with 85.0% ROIC and 59.3% gross margin. COLL currently holds the highest overall quantitative score in the immediate peer group at 59/100 (C-) compared with ANNX at 30/100 (E).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
ANNX ACTIVE
Annexon Inc.
E 30/100 — — -35.0% -2.72% $767.8M Benchmark Subject
HELP
Helus Pharma Inc.
D+ 53/100 — — — -16.94% $774.1M /help-vs-annx →
COLL
Collegium Pharmaceutical Inc.
C- 59/100 12.4x 59.3% 85.0% -0.50% $774.8M /coll-vs-annx →
ARDX
Ardelyx Inc.
E 24/100 — 90.3% -32.7% 0.00% $755.0M /ardx-vs-annx →
AVBP
ArriVent BioPharma Inc.
E 29/100 — — -35.0% -10.22% $733.2M /avbp-vs-annx →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001528115 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Annexon Inc. (ANNX) reported GAAP revenue of $605.9M (+40.5% vs. FY2024 revenue of $431.4M , and +50.6% cumulative change since FY2023) , GAAP net income of -$206.7M, operating cash flow of -$186.4M, and free cash flow of -$186.5M (-58.0% YoY). On the balance sheet, ANNX closed FY2025 with $277.6M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $605.9M -$206.7M -$186.4M -$186.5M $277.6M —
FY2024 (FY) 2024-12-31 $431.4M -$138.2M -$118.0M -$118.0M $350.1M —
FY2023 (FY) 2023-12-31 $402.4M -$134.2M -$121.1M -$121.1M — —

3. ANNX Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is ANNX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Annexon Inc. (NASDAQ: ANNX) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 30/100 at a spot price of $3.94 (-2.72% 1D, market cap $767.8M). Pillar breakdown: Fundamental Cash Engine 6/20, Institutional 13F & Options Flow 6/20, SEC Balance-Sheet Forensics 10/20, FRED Macro Regime Fit 5/20, and Executive Insider Alignment 3/20. Across 1015 tracked Health Care issuers, ANNX ranks #790 in composite RQD confidence.

How does ANNX compare to HELP and COLL in the Health Care sector?

Within the Health Care sector (Biotechnology: Pharmaceutical Preparations), ANNX carries a Roarable E (30/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, HELP (Helus Pharma Inc.) holds a D+ grade (53/100 RQD, P/E N/A, ROIC —, cap $774.1M) and COLL (Collegium Pharmaceutical Inc.) posts a C- grade (59/100 RQD, P/E 12.4x, ROIC 85.0%, cap $774.8M). Among the 5-stock peer group, COLL leads on earnings multiple (12.4x) while COLL leads on capital efficiency (85.0% ROIC).

What are the biggest fundamental strengths and SEC risk factors for ANNX?

Per ANNX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001528115), Annexon Inc. generated $605.9M in revenue (+40.5% YoY), -$206.7M in net income, and -$186.5M in free cash flow against $277.6M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is ANNX trading relative to its 50-day, 200-day, and 52-week technical levels?

ANNX last traded at $3.94 (-2.72% on volume of 2,276,798 shares), positioning the stock -5.29% below its 50-day simple moving average ($4.16) and -24.23% below its 200-day simple moving average ($5.20). Across its 52-week range of $2.54 to $7.18, ANNX sits at the 30.2% percentile with a 14-day RSI of 52.4 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($3.45 to $4.43).

Direct Sub-Reports: ANNX RQD Cockpit ANNX 12M Forecast ANNX Earnings & Move ANNX Dividends & DRIP ANNX Insiders & 13F ANNX Whale Options ANNX Profit Sankey ANNX News & Why
ROARABLE RATING BRIEF • RQD 30/100 (E) ✓ SEC XBRL & RQD VERIFIED

ANNX — Annexon Inc.: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Annexon Inc. (ANNX) earns a live Roarable RQD composite score of 30/100, corresponding to a E letter grade (Roarable Strong Sell) at a spot price of $3.94 (-2.72% 1D, market capitalization $767.8M).

  • Fundamental Cash Engine (6/20): Anchored by return on invested capital (ROIC) of -35.0%, gross margin of —, operating margin of —, and free cash flow yield of -24.53%.
  • Whale 13F & Options Flow (6/20) + Insider Conviction (3/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (5/20) + Forensic Balance Sheet (10/20): Incorporates a 1.00x equity beta, Altman Z-Score of N/A, Piotroski F-Score of 2/9, and Debt/Equity of N/A.

2. Business Model, Unit Margins & SEC Financial Trajectory

Annexon Inc. Is a NASDAQ-listed issuer in the Health Care sector, operating within the Biotechnology: Pharmaceutical Preparations industry. It carries a market capitalization of $0.8B. The reported revenue of — across the periods provided indicates no current revenue generation .

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Annexon Inc. (ANNX) reported $605.9M in annual revenue (up from $431.4M in FY2024, +40.5% YoY) and -$206.7M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($402.4M revenue, -$134.2M net income) through FY2025, ANNX scaled operating cash flow to -$186.4M and free cash flow to -$186.5M, backed by $277.6M in total assets against $0 in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (E • RQD 30/100): Established market leader in Health Care with deep daily trading liquidity. Free cash flow yield of -24.53% and institutional whale pillar of 6/20. With Fundamental Cash Engine at 6/20 and Institutional Whale Flow at 6/20, sustained execution supports upside toward the upper end of the $2.54 – $7.18 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh current valuation against — operating margins and a 1.00x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

— for upstream suppliers, downstream customers, or sector correlations beyond the stated Health Care and Biotechnology classification. The investor should watch for any future disclosure of partnerships or licensing arrangements, since the absence of links means no second-order ripple effects can be mapped from this dataset.

  • Key Question #1: Can ANNX sustain or expand its — operating margin and -35.0% ROIC against Biotechnology: Pharmaceutical Preparations peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $605.9M and free cash flow of -$186.5M, how will capital allocation balance growth reinvestment against $0 in total debt?
  • Key Question #3: How sensitive is ANNX's equity valuation to Health Care capital spending cycles and macro interest-rate shifts (Beta 1.00x)?

ANNX Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Annexon Inc. (ANNX) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to ANNX Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

ANNX Bull vs. Bear Conversation Board — What's Your Call at $3.94?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON ANNX 🐻 33% BEARISH CONVICTION
1. Pick Your Side on ANNX:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
BR BreakoutHunter RQD DEBATE OPENER • Swing & Catalyst Trader 🐂 BULLISH 🎯 Target: $5.18 (+27.9%)
📌 Pinned Debate

Cash rose to $162.1M in FY 2025 from $49.5M in FY 2024, giving the balance sheet more runway.

Picked up a starter position in ANNX in my $100K Virtual Cash book at $4.05. Cash rose to $162.1M in FY 2025 from $49.5M in FY 2024, giving the balance sheet more runway.. Trading inside a $2.54–$7.18 52-week range with -24.53% FCF yield gives solid downside support if Biotechnology: Pharmaceutical Preparations multiples expand this quarter.

CapAlloc_Nerd 🐂 BULL

@MeanReversion_88 Fair point on current EV/EBITDA multiples, but you're ignoring the forward operating leverage in Biotechnology: Pharmaceutical Preparations. If gross margin (0.0%) holds, EPS grows into the multiple faster than bears think.

ME MeanReversion_88 RQD DEBATE OPENER • Quantitative Statistical Arb 🐻 BEARISH 🎯 Target: $3.16 (-22.0%)
Spot @ $4.05

Operating losses widened to -$216.4M in FY 2025 with zero reported revenue and a Piotroski F-Score of 2/9.

Here is the bear case nobody on the bull side wants to address on ANNX: Operating losses widened to -$216.4M in FY 2025 with zero reported revenue and a Piotroski F-Score of 2/9.. At current EV/EBITDA multiples, even a small guidance miss in Biotechnology: Pharmaceutical Preparations triggers a 12-15% air pocket.

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