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NextCure
(NASDAQ:NXTC)
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Rating:46Neutral
Price Target:
$6.50
▲(11.49% Upside)
Action:Reiterated
Date:10/09/26
The score is primarily constrained by weak financial performance: no revenue, ongoing losses, and sustained cash burn with a rapidly shrinking equity cushion. Corporate events add both upside (transformative merger and large financing) and notable risk (extreme dilution for legacy holders and reverse-split legal uncertainty). Technicals are only moderately supportive, and valuation signals are limited due to negative earnings.
Positive Factors
Merger funding and pipeline expansion
The planned Avere combination would provide substantial development capital and replace NextCure’s narrow oncology focus with a funded oral IL-23 program. Access to financing through multiple clinical milestones could support continued execution and extend the development runway.
Negative Factors
No commercial revenue base
Persistent zero revenue and sizable losses show that NextCure has not established a commercial product base capable of funding operations. Without operating sales, financial performance remains dependent on pipeline progress, collaborations, or external capital rather than recurring business cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Merger funding and pipeline expansion
The planned Avere combination would provide substantial development capital and replace NextCure’s narrow oncology focus with a funded oral IL-23 program. Access to financing through multiple clinical milestones could support continued execution and extend the development runway.
Read all positive factors
NextCure (NXTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$32.87M
Dividend YieldN/A
Average Volume (3M)94.57K
Price to Earnings (P/E)―
Beta (1Y)1.13
Revenue GrowthN/A
EPS Growth59.14%
CountryUS
Employees40
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-10.58
Shares Outstanding4,577,359
10 Day Avg. Volume66,370
30 Day Avg. Volume94,568
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.15
Price to Sales (P/S)0.00
P/FCF Ratio-0.81
Enterprise Value/Market Cap-0.22
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit25.81
Enterprise Value/Ebitda0.18
Forecast
1Y Price Target
$20.00Price Target Upside243.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-6.26
Revenue Forecast (FY)N/A
NextCure Business Overview & Revenue Model
Company Description
NextCure, Inc. is a clinical-stage biopharmaceutical firm dedicated to discovering and advancing innovative immunotherapies. Its core mission is to combat cancer and various other immune-related conditions by reactivating normal immune system func...
How the Company Makes Money
NextCure has historically generated revenue primarily through collaboration and licensing arrangements rather than product sales, as it is a clinical-stage company without broad commercialized therapeutics. Under such arrangements, revenue typical...
NextCure Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -283.00K | -2.19M | -2.87M | 0.00 | 0.00 | 0.00 |
| EBITDA | -41.30M | -53.66M | -54.34M | -59.04M | -70.61M | -65.14M |
| Net Income | -42.75M | -55.84M | -55.65M | -62.72M | -74.73M | -69.39M |
Balance Sheet | ||||||
| Total Assets | 22.62M | 50.18M | 80.86M | 128.04M | 184.16M | 242.39M |
| Cash, Cash Equivalents and Short-Term Investments | 20.09M | 41.82M | 68.62M | 108.30M | 159.91M | 219.59M |
| Total Debt | 4.29M | 5.15M | 5.95M | 6.61M | 7.12M | 0.00 |
| Total Liabilities | 10.47M | 15.24M | 15.39M | 13.62M | 16.63M | 9.00M |
| Stockholders Equity | 12.15M | 34.94M | 65.47M | 114.42M | 167.53M | 233.39M |
Cash Flow | ||||||
| Free Cash Flow | -36.98M | -49.61M | -41.28M | -53.79M | -56.00M | -59.60M |
| Operating Cash Flow | -36.98M | -49.61M | -40.80M | -52.97M | -53.89M | -57.24M |
| Investing Cash Flow | 25.79M | 25.56M | 55.31M | 39.27M | 67.98M | 36.60M |
| Financing Cash Flow | 21.56M | 22.31M | 144.00K | 154.00K | 200.00K | -3.27M |
NextCure Technical Analysis
Positive
5.83
Price Trends
6.25
Positive
5.08
Positive
8.40
Negative
Market Momentum
0.02
Negative
63.92
Neutral
94.51
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NXTC, the sentiment is Positive. The current price of 5.83 is above the 20-day moving average (MA) of 5.64, below the 50-day MA of 6.25, and below the 200-day MA of 8.40, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 63.92 is Neutral, neither overbought nor oversold. The STOCH value of 94.51 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NXTC.
NextCure Risk Analysis
NextCure disclosed 75 risk factors in its most recent earnings report. NextCure reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NextCure Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $50.62M | -0.55 | 239.78% | ― | -62.78% | -10.46% | |
50 Neutral | $47.61M | -1.33 | -166.98% | ― | ― | 55.37% | |
46 Neutral | $32.87M | -0.68 | -175.46% | ― | ― | 59.14% | |
45 Neutral | $13.77M | -0.06 | -443.08% | ― | ― | 75.09% | |
43 Neutral | $16.20M | -2.02 | -56.96% | ― | -56.64% | 64.88% | |
41 Neutral | $9.79M | -0.18 | -1539.97% | ― | ― | 80.28% |
* Healthcare Sector Average
NXTC
NextCure
7.18
0.83
13.07%
GTBP
GT Biopharma
6.68
-11.76
-63.77%
MRKR
Marker Therapeutics
0.97
-0.05
-4.80%
CELU
Celularity
1.56
-0.48
-23.53%
HOWL
Werewolf Therapeutics
0.98
-0.65
-39.94%
SNTI
Senti Biosciences
0.31
-1.37
-81.31%
NextCure Corporate Events
Legal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder MeetingsStock Split
NextCure Faces Court Review of Reverse Stock Split
Negative
Sep 25, 2026
On September 14, 2026, NextCure petitioned the Delaware Court of Chancery under Section 205 of the DGCL to validate a July 10, 2025 Certificate of Amendment authorizing a 1-for-12 reverse stock split, which had been approved at the June 20, 2025 a...
Business Operations and Strategy
NextCure Ends Beltsville Lease to Cut Operating Costs
Positive
Sep 3, 2026
On August 28, 2026, NextCure, Inc. entered into a ninth amendment to its lease for approximately 29,864 square feet of laboratory and office space at 8000 Virginia Manor Road in Beltsville, Maryland, covering its remaining premises at that site. U...
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesM&A TransactionsPrivate Placements and Financing
NextCure Announces Transformative All-Stock Merger With Avere
Positive
Jul 15, 2026
On July 14, 2026, NextCure and privately held Avere Therapeutics agreed to an all-stock merger that will combine Avere’s differentiated oral IL-23 program with NextCure’s public listing, with the combined entity to operate as Avere The...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.