9 Meters Biopharma, Inc.

DB:2Q3A Stock Report

Market Cap: €8.0m

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9 Meters Biopharma Valuation

Is 2Q3A undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2Q3A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 2Q3A's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 2Q3A's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2Q3A?

Key metric: As 2Q3A is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 2Q3A. This is calculated by dividing 2Q3A's market cap by their current book value.
What is 2Q3A's PB Ratio?
PB Ratio-0.4x
Book-US$6.30m
Market CapUS$9.00m

Price to Book Ratio vs Peers

How does 2Q3A's PB Ratio compare to its peers?

The above table shows the PB ratio for 2Q3A vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average3.1x
B8FK Biofrontera
0.9xn/a€16.4m
APPH Apontis Pharma
2.6x78.1%€80.3m
93M1 MPH Health Care
0.3x-65.7%€105.3m
PSG PharmaSGP Holding
8.6x13.9%€280.6m
2Q3A 9 Meters Biopharma
n/a41.4%€9.0m

Price-To-Book vs Peers: 2Q3A is good value based on its Price-To-Book Ratio (-0.4x) compared to the peer average (3.9x).

Price to Book Ratio vs Industry

How does 2Q3A's PB Ratio compare vs other companies in the European Pharmaceuticals Industry?

12 CompaniesPrice / BookEstimated GrowthMarket Cap
2Q3A is unprofitableIndustry Avg. 2.3xNo. of Companies17PB0246810+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: 2Q3A is good value based on its Price-To-Book Ratio (-0.4x) compared to the European Pharmaceuticals industry average (2.1x)

Price to Book Ratio vs Fair Ratio

What is 2Q3A's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2Q3A PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio-0.4x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 2Q3A's Price-To-Book Fair Ratio for valuation analysis.

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 2Q3A forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
€8.93
0%
82.8%€18.64€0.70n/a3
Nov ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Oct ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Sep ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Aug ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Jul ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Jun ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
May ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Apr ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Mar ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Feb ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Jan ’25n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Dec ’24n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Nov ’24n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Oct ’24n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Sep ’24n/a
€8.93
0%
82.8%€18.64€0.70n/a3
Aug ’24€0.01
€8.93
+88,341.8%
82.8%€18.64€0.70n/a3
Jul ’24€0.61
€8.93
+1,359.6%
82.8%€18.64€0.70n/a3
Jun ’24€0.64
€8.93
+1,292.5%
82.8%€18.64€0.70n/a3
May ’24€0.86
€16.54
+1,822.8%
79.8%€36.90€1.57n/a4
Apr ’24€1.30
€16.54
+1,172.0%
79.8%€36.90€1.57n/a4
Mar ’24€1.58
€31.01
+1,867.7%
69.7%€69.29€2.53n/a6
Feb ’24€1.81
€37.62
+1,981.0%
52.1%€71.03€9.60n/a5
Jan ’24€1.09
€37.62
+3,345.4%
52.1%€71.03€9.60n/a5
Dec ’23€1.61
€37.62
+2,231.1%
52.1%€71.03€9.60n/a5
Nov ’23€2.56
€67.03
+2,518.5%
29.7%€100.35€40.14n/a5

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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