We’ve recently updated our valuation analysis.

Cipher Pharmaceuticals Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

CPH key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.9x
Enterprise Value/EBITDA3.1x
PEG Ratio-0.6x

Price to Earnings Ratio vs Peers

How does CPH's PE Ratio compare to its peers?

The above table shows the PE ratio for CPH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.9x
RX BioSyent
14.3xn/aCA$87.6m
CXXI C21 Investments
5.7xn/aCA$51.0m
VEXT Vext Science
4.5xn/aCA$35.0m
XRTX XORTX Therapeutics
7xn/aCA$17.7m
CPH Cipher Pharmaceuticals
6.9x-11.6%CA$92.0m

Price-To-Earnings vs Peers: CPH is good value based on its Price-To-Earnings Ratio (6.9x) compared to the peer average (7.9x).


Price to Earnings Ratio vs Industry

How does CPH's PE Ratio compare vs other companies in the North American Pharmaceuticals Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a63.9%
n/an/an/a

Price-To-Earnings vs Industry: CPH is good value based on its Price-To-Earnings Ratio (6.9x) compared to the North American Pharmaceuticals industry average (17x)


Price to Earnings Ratio vs Fair Ratio

What is CPH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CPH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.9x
Fair PE Ratio12.1x

Price-To-Earnings vs Fair Ratio: CPH is good value based on its Price-To-Earnings Ratio (6.9x) compared to the estimated Fair Price-To-Earnings Ratio (12.1x).


Share Price vs Fair Value

What is the Fair Price of CPH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CPH (CA$3.66) is trading below our estimate of fair value (CA$18.94)

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


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 CPH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$3.66
CA$4.13
+12.7%
3.0%CA$4.25CA$4.00n/a2
Nov ’23CA$3.23
CA$3.30
+2.2%
6.1%CA$3.50CA$3.10n/a2
Oct ’23CA$3.24
CA$3.30
+1.9%
6.1%CA$3.50CA$3.10n/a2
Sep ’23CA$2.63
CA$3.30
+25.5%
6.1%CA$3.50CA$3.10n/a2
Aug ’23CA$2.19
CA$3.50
+59.8%
0%CA$3.50CA$3.50n/a1
Jul ’23CA$2.20
CA$3.50
+59.1%
0%CA$3.50CA$3.50n/a1
Jun ’23CA$2.40
CA$3.50
+45.8%
0%CA$3.50CA$3.50n/a1
May ’23CA$2.24
CA$3.30
+47.3%
6.1%CA$3.50CA$3.10n/a2
Apr ’23CA$2.38
CA$3.30
+38.7%
6.1%CA$3.50CA$3.10n/a2
Mar ’23CA$1.96
CA$3.30
+68.4%
6.1%CA$3.50CA$3.10n/a2
Feb ’23CA$1.77
CA$3.30
+86.4%
6.1%CA$3.50CA$3.10n/a2
Jan ’23CA$1.77
CA$3.30
+86.4%
6.1%CA$3.50CA$3.10n/a2
Dec ’22CA$1.67
CA$2.52
+50.7%
44.5%CA$3.50CA$0.95CA$3.473
Nov ’22CA$2.59
CA$2.42
-6.7%
44.5%CA$3.50CA$0.95CA$3.233
Oct ’22CA$2.29
CA$2.42
+5.5%
44.5%CA$3.50CA$0.95CA$3.243
Sep ’22CA$2.08
CA$2.42
+16.2%
44.5%CA$3.50CA$0.95CA$2.633
Aug ’22CA$1.53
CA$1.40
-8.5%
43.0%CA$2.25CA$0.95CA$2.193
Jul ’22CA$1.50
CA$1.40
-6.7%
43.0%CA$2.25CA$0.95CA$2.203
Jun ’22CA$1.35
CA$1.40
+3.7%
43.0%CA$2.25CA$0.95CA$2.403
May ’22CA$1.30
CA$1.40
+7.7%
43.0%CA$2.25CA$0.95CA$2.243
Apr ’22CA$1.38
CA$1.48
+7.5%
48.5%CA$2.50CA$0.95CA$2.383
Mar ’22CA$0.94
CA$1.36
+44.4%
45.3%CA$2.22CA$0.85CA$1.963
Feb ’22CA$0.90
CA$1.36
+51.4%
45.6%CA$2.24CA$0.85CA$1.773
Jan ’22CA$0.93
CA$1.50
+61.3%
27.2%CA$2.00CA$1.00CA$1.773
Dec ’21CA$0.87
CA$1.50
+72.4%
27.2%CA$2.00CA$1.00CA$1.673

Analyst Forecast: Target price is less than 20% higher than the current share price.


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