Avid Bioservices, Inc.

DB:TEHP Stock Report

Market Cap: €752.4m

Avid Bioservices Valuation

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

Below Fair Value: TEHP (€11.7) is trading above our estimate of fair value (€4.59)

Significantly Below Fair Value: TEHP is trading above our estimate of fair value.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for TEHP. This is calculated by dividing TEHP's market cap by their current revenue.
What is TEHP's PS Ratio?
PS Ratio5.5x
SalesUS$142.36m
Market CapUS$783.46m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TEHP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average9.4x
FYB Formycon
13.6x33.4%€827.2m
BIO3 Biotest
1.5x3.6%€1.4b
MOR MorphoSys
10.2xn/a€2.6b
HPHA Heidelberg Pharma
12.3x16.6%€103.9m
TEHP Avid Bioservices
5.5x20.0%€783.5m

Price-To-Sales vs Peers: TEHP is good value based on its Price-To-Sales Ratio (5.5x) compared to the peer average (9.4x).

Price to Sales Ratio vs Industry

How does TEHP'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
TEHP 5.5xIndustry Avg. 8.0xNo. of Companies6PS0612182430+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: TEHP is good value based on its Price-To-Sales Ratio (5.5x) compared to the European Biotechs industry average (8x).

Price to Sales Ratio vs Fair Ratio

What is TEHP'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.

TEHP PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.5x
Fair PS Ratio2.7x

Price-To-Sales vs Fair Ratio: TEHP is expensive based on its Price-To-Sales Ratio (5.5x) compared to the estimated Fair Price-To-Sales Ratio (2.7x).

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 TEHP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.70
€12.04
+2.9%
5.4%€12.97€11.58n/a3
Nov ’25€9.15
€12.40
+35.5%
12.3%€14.70€11.02n/a4
Oct ’25€10.20
€12.15
+19.1%
12.3%€14.40€10.80n/a4
Sep ’25€9.30
€11.59
+24.6%
23.7%€14.83€7.42n/a4
Aug ’25€9.65
€11.59
+20.1%
23.7%€14.83€7.42n/a4
Jul ’25€6.60
€11.71
+77.4%
23.7%€14.99€7.49n/a4
Jun ’25€7.30
€11.71
+60.4%
23.7%€14.99€7.49n/a4
May ’25€7.00
€11.71
+67.3%
23.7%€14.99€7.49n/a4
Apr ’25€6.40
€11.40
+78.2%
27.3%€14.90€6.52n/a4
Mar ’25€7.10
€12.08
+70.1%
27.2%€14.86€6.50n/a4
Feb ’25€6.25
€12.08
+93.2%
27.2%€14.86€6.50n/a4
Jan ’25€6.10
€12.08
+98.0%
27.2%€14.86€6.50n/a4
Dec ’24€4.60
€17.35
+277.2%
14.6%€20.63€14.07n/a4
Nov ’24€5.80
€17.35
+199.1%
14.6%€20.63€14.07€9.154
Oct ’24€9.20
€17.99
+95.6%
13.4%€20.56€14.02€10.204
Sep ’24€10.80
€18.05
+67.1%
9.0%€20.11€15.54€9.304
Aug ’24€11.50
€17.80
+54.8%
9.0%€19.83€15.32€9.654
Jul ’24€12.30
€18.94
+54.0%
12.5%€21.90€15.52€6.604
Jun ’24€14.40
€20.39
+41.6%
10.2%€22.91€18.33€7.304
May ’24€16.00
€20.39
+27.4%
10.2%€22.91€18.33€7.004
Apr ’24€16.66
€20.25
+21.6%
9.4%€23.28€18.62€6.404
Mar ’24€15.49
€21.01
+35.6%
9.2%€23.52€18.81€7.103
Feb ’24€14.47
€21.01
+45.2%
9.2%€23.52€18.81€6.253
Jan ’24€12.99
€21.01
+61.8%
9.2%€23.52€18.81€6.103
Dec ’23€14.91
€26.61
+78.6%
12.6%€30.71€22.52€4.603
Nov ’23€17.08
€26.61
+55.9%
12.6%€30.71€22.52€5.803

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

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