Anixa Biosciences Valuation

Q: What is the Fair Price of CY71 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

CY71 (€3.12) is trading below our estimate of [[fair value]] (€4.53)

Is CY71 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

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 CY71 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CY71 (€3.12) is trading below our estimate of fair value (€4.53)

Significantly Below Fair Value: CY71 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CY71?

Key metric: As CY71 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 CY71. This is calculated by dividing CY71's market cap by their current book value.
What is CY71's PB Ratio?
PB Ratio	4.9x
Book	US$21.77m
Market Cap	US$106.84m

CY71 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/Revenue	n/a
Enterprise Value/EBITDA	n/a
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does CY71's PB Ratio compare to its peers?

The above table shows the PB ratio for CY71 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	12.7x
HPHA Heidelberg Pharma	3x	-33.0%	€105.8m
MDG1 Medigene	0.9x	11.0%	€17.4m
VSC 4SC	45.8x	n/a	€50.2m
2INV 2invest	1x	n/a	€62.7m
CY71 Anixa Biosciences	4.9x	9.5%	€106.8m

Price-To-Book vs Peers: CY71 is good value based on its Price-To-Book Ratio (4.9x) compared to the peer average (12.7x).

Price to Book Ratio vs Industry

How does CY71's PB Ratio compare vs other companies in the DE Biotechs Industry?

3 Companies	Price / Book	Estimated Growth	Market Cap
V9Z Aceragen	0.1x	n/a	US$3.12m
V9Z Aceragen	0.1x	n/a	US$2.18m
O7P NeuBase Therapeutics	0.1x	n/a	US$1.39m

No more companies available in this PB range

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: CY71 is expensive based on its Price-To-Book Ratio (4.9x) compared to the European Biotechs industry average (2.4x).

Price to Book Ratio vs Fair Ratio

What is CY71'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.

CY71 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	4.9x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate CY71'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 CY71 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€3.12	€8.02 +157.1%	17.6%	€9.44	€6.61	n/a	2
Nov ’25	€3.18	€7.64 +140.2%	17.6%	€8.99	€6.29	n/a	2
Oct ’25	€2.78	€7.64 +174.8%	17.6%	€8.99	€6.29	n/a	2
Sep ’25	€2.96	€7.78 +162.9%	17.6%	€9.16	€6.41	n/a	2
Aug ’24	€3.28	€9.61 +192.9%	14.3%	€10.98	€8.23	€3.04	2
Jul ’24	€2.88	€9.61 +233.6%	14.3%	€10.98	€8.23	€2.02	2
Jun ’24	€2.76	€9.61 +248.1%	14.3%	€10.98	€8.23	€2.32	2
May ’24	€3.64	€9.61 +163.9%	14.3%	€10.98	€8.23	€2.78	2
Apr ’24	€3.94	€9.69 +146.1%	14.3%	€11.07	€8.30	€2.96	2
Mar ’24	€4.14	€8.98 +117.1%	15.8%	€10.40	€7.56	€3.20	2
Feb ’24	€4.14	€8.95 +116.3%	15.8%	€10.36	€7.54	€4.16	2
Jan ’24	€3.84	€8.95 +132.9%	15.8%	€10.36	€7.54	€3.48	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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