ANI Pharmaceuticals, Inc.

BST:BSFA Stock Report

Market Cap: €1.1b

ANI Pharmaceuticals Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: BSFA (€53.5) is trading below our estimate of fair value (€286.78)

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


Key Valuation Metric

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

Key metric: As BSFA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BSFA. This is calculated by dividing BSFA's market cap by their current revenue.
What is BSFA's PS Ratio?
PS Ratio2x
SalesUS$555.46m
Market CapUS$1.11b

Price to Sales Ratio vs Peers

How does BSFA's PS Ratio compare to its peers?

The above table shows the PS ratio for BSFA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average5.2x
DMP Dermapharm Holding
1.7x4.1%€2.0b
PSG PharmaSGP Holding
2.6x7.7%€280.6m
2FJ0 Pierrel
3.4xn/a€92.8m
0RX Redx Pharma
13.3x-37.6%€65.0m
BSFA ANI Pharmaceuticals
2x9.1%€1.1b

Price-To-Sales vs Peers: BSFA is good value based on its Price-To-Sales Ratio (2x) compared to the peer average (5.2x).


Price to Sales Ratio vs Industry

How does BSFA's PS Ratio compare vs other companies in the European Pharmaceuticals Industry?

23 CompaniesPrice / SalesEstimated GrowthMarket Cap
BSFA 2.0xIndustry Avg. 2.9xNo. of Companies35PS0612182430+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BSFA is good value based on its Price-To-Sales Ratio (2x) compared to the European Pharmaceuticals industry average (2.9x).


Price to Sales Ratio vs Fair Ratio

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

BSFA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2x
Fair PS Ratio2.3x

Price-To-Sales vs Fair Ratio: BSFA is good value based on its Price-To-Sales Ratio (2x) compared to the estimated Fair Price-To-Sales Ratio (2.3x).


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 BSFA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€53.50
€73.59
+37.5%
14.6%€88.23€58.19n/a5
Nov ’25€53.00
€71.98
+35.8%
14.8%€86.74€57.21n/a5
Oct ’25€53.00
€73.82
+39.3%
14.7%€84.21€53.75n/a5
Sep ’25€56.00
€77.11
+37.7%
7.5%€86.03€70.47n/a4
Aug ’25€58.00
€77.71
+34.0%
7.0%€88.01€72.10n/a5
Jul ’25€58.00
€77.71
+34.0%
7.0%€88.01€72.10n/a5
Jun ’25€58.00
€75.64
+30.4%
4.1%€80.65€71.38n/a5
May ’25€61.00
€73.30
+20.2%
2.4%€76.24€70.72n/a5
Apr ’25€63.00
€73.30
+16.3%
2.4%€76.24€70.72n/a5
Mar ’25€61.50
€69.67
+13.3%
5.5%€73.82€64.60n/a4
Feb ’25€51.00
€63.54
+24.6%
3.6%€66.50€60.13n/a4
Jan ’25€48.60
€63.54
+30.7%
3.6%€66.50€60.13n/a4
Dec ’24€46.00
€66.58
+44.7%
2.0%€68.46€65.65n/a3
Nov ’24€55.00
€68.16
+23.9%
1.7%€69.42€66.57€53.003
Oct ’24€54.50
€66.79
+22.6%
1.7%€68.04€65.24€53.003
Sep ’24€58.50
€66.06
+12.9%
1.7%€67.28€64.52€56.003
Aug ’24€47.00
€55.32
+17.7%
1.6%€56.53€54.71€58.003
Jul ’24€48.40
€47.79
-1.3%
12.7%€54.73€38.31€58.005
Jun ’24€42.20
€47.79
+13.3%
12.7%€54.73€38.31€58.005
May ’24€33.00
€45.85
+39.0%
10.6%€51.26€37.28€61.005
Apr ’24€35.80
€45.85
+28.1%
10.6%€51.26€37.28€63.005
Mar ’24€40.00
€44.05
+10.1%
18.5%€51.99€28.36€61.505
Feb ’24€39.40
€42.29
+7.3%
18.9%€47.52€28.51€51.004
Jan ’24€37.60
€43.20
+14.9%
18.2%€49.95€29.97€48.604
Dec ’23€39.60
€43.20
+9.1%
18.2%€49.95€29.97€46.004
Nov ’23€38.20
€43.22
+13.1%
18.2%€49.97€29.98€55.004

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


Discover undervalued companies