PTC Therapeutics, Inc.

DB:BH3 Stock Report

Market Cap: €3.4b

PTC Therapeutics Valuation

Is BH3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 BH3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BH3 (€43.2) is trading below our estimate of fair value (€147.47)

Significantly Below Fair Value: BH3 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BH3?

Key metric: As BH3 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BH3. This is calculated by dividing BH3's market cap by their current revenue.
What is BH3's PS Ratio?
PS Ratio3.9x
SalesUS$900.66m
Market CapUS$3.55b

Price to Sales Ratio vs Peers

How does BH3's PS Ratio compare to its peers?

The above table shows the PS ratio for BH3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.1x
BIO3 Biotest
1.5x3.6%€1.3b
FYB Formycon
14.1x33.4%€857.2m
HPHA Heidelberg Pharma
12.5x16.6%€105.8m
1SXP SCHOTT Pharma KGaA
4.3x10.7%€4.1b
BH3 PTC Therapeutics
3.9x5.5%€3.5b

Price-To-Sales vs Peers: BH3 is good value based on its Price-To-Sales Ratio (3.9x) compared to the peer average (8.1x).

Price to Sales Ratio vs Industry

How does BH3's PS Ratio compare vs other companies in the DE Biotechs Industry?

7 CompaniesPrice / SalesEstimated GrowthMarket Cap
BIO3 Biotest
1.5x3.6%US$1.43b
CNW co.don
0.7xn/aUS$6.97m
V9Z Aceragen
0.4xn/aUS$3.12m
PA8 Paion
0.2x30.2%US$2.78m
BH3 3.9xIndustry Avg. 8.0xNo. of Companies7PS0612182430+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BH3 is good value based on its Price-To-Sales Ratio (3.9x) compared to the European Biotechs industry average (7.9x).

Price to Sales Ratio vs Fair Ratio

What is BH3'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.

BH3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.9x
Fair PS Ratio2.5x

Price-To-Sales vs Fair Ratio: BH3 is expensive based on its Price-To-Sales Ratio (3.9x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).

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 BH3 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€43.20
€43.63
+1.0%
27.3%€64.30€24.59n/a14
Nov ’25€36.40
€38.21
+5.0%
26.3%€58.93€23.94n/a14
Oct ’25€32.80
€35.97
+9.7%
27.7%€57.96€23.55n/a14
Sep ’25€31.80
€35.28
+11.0%
28.8%€57.34€23.29n/a13
Aug ’25€31.00
€35.15
+13.4%
30.8%€56.85€22.92n/a12
Jul ’25€28.40
€36.09
+27.1%
30.3%€57.74€23.28n/a12
Jun ’25€32.60
€33.81
+3.7%
28.2%€48.80€23.02n/a11
May ’25€29.60
€27.58
-6.8%
30.6%€42.07€14.96n/a12
Apr ’25€26.80
€26.77
-0.1%
31.9%€41.42€13.81n/a12
Mar ’25€23.60
€25.99
+10.1%
34.0%€41.53€13.84n/a12
Feb ’25€23.80
€25.58
+7.5%
34.9%€41.45€13.82n/a13
Jan ’25€25.40
€26.07
+2.6%
35.4%€46.46€15.49n/a13
Dec ’24€20.60
€26.58
+29.0%
35.9%€48.27€16.09n/a12
Nov ’24€16.90
€26.58
+57.3%
35.9%€48.27€16.09€36.4012
Oct ’24€21.00
€35.09
+67.1%
40.8%€68.46€20.63€32.8012
Sep ’24€35.80
€47.79
+33.5%
21.2%€66.91€32.08€31.8015
Aug ’24€36.00
€48.50
+34.7%
22.0%€66.22€31.75€31.0015
Jul ’24€36.40
€49.55
+36.1%
21.1%€66.90€32.07€28.4015
Jun ’24€38.80
€50.57
+30.3%
21.5%€69.98€32.66€32.6015
May ’24€49.40
€47.73
-3.4%
19.5%€64.43€31.76€29.6015
Apr ’24€44.40
€48.32
+8.8%
19.3%€70.33€32.82€26.8015
Mar ’24€41.80
€48.21
+15.3%
17.6%€62.22€32.99€23.6014
Feb ’24€41.60
€46.15
+10.9%
20.9%€62.32€32.07€23.8014
Jan ’24€34.40
€47.07
+36.8%
21.2%€64.58€32.76€25.4014
Dec ’23€39.40
€51.65
+31.1%
19.8%€69.25€36.13€20.6013
Nov ’23€37.80
€51.65
+36.6%
19.8%€69.25€36.13€16.9013

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

Discover undervalued companies

Teva Pharmaceutical Industries

US$18.8b

Develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally.

TEV

US$15.65

7D

-3.7%

1Y

76.2%

Collegium Pharmaceutical

US$1.0b

A specialty pharmaceutical company, engages in the development and commercialization of medicines for pain management.

354

US$29.60

7D

5.7%

1Y

27.6%

Pharming Group

€491.5m

A biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally.

PHGN

€0.70

7D

-0.7%

1Y

-34.1%