AC Immune (ACIU) Surges 43% in the Past 3 Months: Here's Why
AC Immune SA’s ACIU shares soared in the past three months, driven by rapid progress in the development of its lead pipeline candidate, ACI-24.060, for various neurodegenerative diseases.
ACI-24.060 is an anti-amyloid-beta vaccine that has shown to be safe and well tolerated along with preliminary evidence of immunogenicity and pharmacodynamic effects in patients with Alzheimer’s and Down’s syndrome.
ACI-24.060 is currently being evaluated in a phase Ib/II ABATE study to treat Alzheimer’s patients and individuals with Down’s syndrome. The company is also expanding the clinical reach of the study in additional geographical locations. In June the FDA cleared an investigational new drug application for ABATE study, allowing the company to initiate clinical studies in the United States. ACIU anticipates interim data from the study in the second half of 2023.
Given the predictable progression of symptoms in Alzheimer's disease related to Down's syndrome, findings from the ABATE study will offer crucial insights into ACI-24.060's potential as a valuable therapeutic option for those seeking effective treatment.
Shares of AC Immune surged 42.6% year to date against the industry's 4.4% decline.
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In June, its pipeline candidate, ACI-24.060, obtained Fast Track Designation from the FDA for treating patients with Alzheimer’s disease. The designation expedites development and review of drugs for severe or life-threatening conditions for which there is no existing treatment.
ACIU has license agreement with a few companies to develop treatments for neurodegenerative diseases. It is co-developing crenezumab— an anti-amyloid-beta antibody with Genentech, a member of Roche Group RHHBY for the potential treatment of Alzheimer’s disease. In a mid-stage study, the candidate showednumerous benefits compared to placebo across co-primary and multiple secondary endpoints. However, these observed effects did not show any statistical significance, and the primary results and further analyses are still pending. The study is currently in progress with final efficacy assessments underway.
AC Immune Price and Consensus
AC Immune price-consensus-chart | AC Immune Quote
Zacks Rank & Stocks to Consider
AC Immune currently carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the same industry are Corcept Therapeutics CORT and Annovis Bio ANVS, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for Corcept’s earnings has gone up from 62 cents per share to 78 cents for 2023. The bottom-line estimate has also improved from 61 cents to 83 cents for 2024 during the same time frame. Shares of the company have rallied 42.5% in the past three months.
CORT’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average surprise of 6.99%.
In the past 90 days, the Zacks Consensus Estimate for Annovis Bio has narrowed from a loss of $4.89 per share to a loss of $4.38 for 2023. The bottom-line estimate has narrowed from a loss of $3.18 to $2.77 for 2024 during the same time frame. Shares of the company have lost 8.5% in the past three months.
ANVS’ earnings beat estimates in three of the trailing four quarters and missed the mark in one, delivering an average surprise of 13.40%.
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