Fennec Pharmaceuticals Inc.

DB:RV41 Stock Report

Market Cap: €104.0m

Fennec Pharmaceuticals Valuation

Is RV41 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 RV41 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: RV41 (€3.68) is trading below our estimate of fair value (€90.55)

Significantly Below Fair Value: RV41 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for RV41?

Key metric: As RV41 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for RV41. This is calculated by dividing RV41's market cap by their current revenue.
What is RV41's PS Ratio?
PS Ratio2.2x
SalesUS$49.35m
Market CapUS$109.45m

Price to Sales Ratio vs Peers

How does RV41's PS Ratio compare to its peers?

The above table shows the PS ratio for RV41 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average9.3x
2INV 2invest
7.7xn/a€59.8m
HPHA Heidelberg Pharma
12.5x16.6%€106.3m
FYB Formycon
13.5x32.5%€820.2m
MDG1 Medigene
3.3x16.1%€24.3m
RV41 Fennec Pharmaceuticals
2.2x27.9%€109.5m

Price-To-Sales vs Peers: RV41 is good value based on its Price-To-Sales Ratio (2.2x) compared to the peer average (9.3x).

Price to Sales Ratio vs Industry

How does RV41's PS Ratio compare vs other companies in the DE Biotechs Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
CNW co.don
0.7xn/aUS$6.97m
V9Z Aceragen
0.4xn/aUS$3.12m
PA8 Paion
0.2x30.2%US$2.78m
V9Z Aceragen
0.3x-161.8%US$2.18m
RV41 2.2xIndustry Avg. 7.7xNo. of Companies6PS0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: RV41 is good value based on its Price-To-Sales Ratio (2.2x) compared to the European Biotechs industry average (7.8x).

Price to Sales Ratio vs Fair Ratio

What is RV41'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.

RV41 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.2x
Fair PS Ratio3.7x

Price-To-Sales vs Fair Ratio: RV41 is good value based on its Price-To-Sales Ratio (2.2x) compared to the estimated Fair Price-To-Sales Ratio (3.7x).

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 RV41 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€3.90
€14.76
+278.6%
22.1%€20.30€12.00n/a4
Oct ’25€4.38
€13.96
+218.6%
19.3%€19.81€11.71n/a6
Sep ’25€4.86
€13.96
+187.2%
19.3%€19.81€11.71n/a6
Aug ’25€5.80
€15.47
+166.7%
15.1%€20.22€12.87n/a6
Jul ’25€5.55
€15.47
+178.7%
15.1%€20.22€12.87n/a6
Jun ’25€6.15
€15.47
+151.5%
15.1%€20.22€12.87n/a6
May ’25€8.30
€16.91
+103.8%
11.6%€20.30€14.76n/a6
Apr ’25€10.20
€16.84
+65.1%
12.1%€20.39€14.83n/a6
Mar ’25€8.55
€15.09
+76.5%
3.0%€15.64€14.72n/a5
Feb ’25€9.00
€15.09
+67.6%
3.0%€15.64€14.72n/a5
Jan ’25€10.20
€15.12
+48.2%
4.3%€15.90€14.03n/a6
Dec ’24€7.65
€15.12
+97.6%
4.3%€15.90€14.03n/a6
Nov ’24€6.30
€14.69
+133.2%
4.3%€15.45€13.63€3.906
Oct ’24€6.60
€14.69
+122.6%
4.3%€15.45€13.63€4.386
Sep ’24€7.30
€14.69
+101.2%
4.3%€15.45€13.63€4.866
Aug ’24€7.85
€14.87
+89.4%
5.8%€16.39€13.65€5.806
Jul ’24€7.95
€14.87
+87.0%
5.8%€16.39€13.65€5.556
Jun ’24€6.90
€14.95
+116.7%
5.8%€16.48€13.73€6.156
May ’24€7.55
€14.95
+98.1%
5.8%€16.48€13.73€8.306
Apr ’24€7.65
€14.36
+87.8%
12.0%€16.50€11.00€10.206
Mar ’24€8.30
€14.51
+74.8%
12.3%€16.50€11.00€8.556
Feb ’24€8.95
€14.51
+62.1%
12.3%€16.50€11.00€9.006
Jan ’24€8.85
€15.78
+78.3%
14.0%€18.55€11.71€10.206
Dec ’23€9.10
€15.78
+73.4%
14.0%€18.55€11.71€7.656
Nov ’23€8.65
€16.01
+85.1%
20.7%€19.42€9.20€6.306

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

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