Zealand Pharma A/S

BATS-CHIXE:ZEALC Stock Report

Market Cap: DKK 46.8b

Zealand Pharma Valuation

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

Discounted Cash Flow
Simply Wall St
DKK 2.00k
Fair Value
67.1% undervalued intrinsic discount
12
Number of Analysts

Below Fair Value: ZEALC (DKK659) is trading below our estimate of fair value (DKK2000.71)

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

Key Valuation Metric

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

Key metric: As ZEALC barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ZEALC. This is calculated by dividing ZEALC's market cap by their current book value.
What is ZEALC's PB Ratio?
PB Ratio5.4x
BookDKK 8.62b
Market CapDKK 46.84b

Price to Book Ratio vs Peers

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

The above table shows the PB ratio for ZEALC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average6.7x
GNS Genus
2.3x49.7%UK£1.1b
OXB Oxford Biomedica
5.3x96.4%UK£347.6m
BVXP Bioventix
12.6xn/aUK£152.7m
FARN Faron Pharmaceuticals Oy
n/a33.9%UK£180.5m
ZEALC Zealand Pharma
5.4x24.6%DKK 46.8b

Price-To-Book vs Peers: ZEALC is expensive based on its Price-To-Book Ratio (5.4x) compared to the peer average (-0.5x).

Price to Book Ratio vs Industry

How does ZEALC's PB Ratio compare vs other companies in the GB Biotechs Industry?

3 CompaniesPrice / BookEstimated GrowthMarket Cap
DEST Destiny Pharma
0.3x-15.5%US$5.85m
0HMP Bellerophon Therapeutics
0.1xn/aUS$489.31k
LLAI LungLife AI
0.07x101.0%US$540.36k
No more companies available in this PB range
No. of Companies5PB01.63.24.86.48+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ZEALC is expensive based on its Price-To-Book Ratio (5.4x) compared to the UK Biotechs industry average (2.8x).

Price to Book Ratio vs Fair Ratio

What is ZEALC'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.

ZEALC PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio5.4x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ZEALC'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 ZEALC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentDKK 659.00
DKK 966.00
+46.6%
11.1%DKK 1,100.00DKK 750.00n/a12
Feb ’26n/a
DKK 1,007.64
0%
9.4%DKK 1,100.00DKK 750.00n/a11
Jan ’26n/a
DKK 1,012.18
0%
9.6%DKK 1,100.00DKK 750.00n/a11
Dec ’25n/a
DKK 1,015.00
0%
10.4%DKK 1,100.00DKK 815.00n/a11
Nov ’25DKK 823.50
DKK 1,007.89
+22.4%
11.7%DKK 1,106.00DKK 800.00n/a9
Oct ’25DKK 821.75
DKK 1,022.29
+24.4%
10.3%DKK 1,106.00DKK 800.00n/a7
Sep ’25DKK 885.50
DKK 1,015.14
+14.6%
10.0%DKK 1,106.00DKK 800.00n/a7
Aug ’25DKK 911.00
DKK 989.86
+8.7%
9.6%DKK 1,100.00DKK 800.00n/a7
Jul ’25n/a
DKK 918.00
0%
12.2%DKK 1,100.00DKK 800.00n/a6
Jun ’25DKK 628.50
DKK 785.57
+25.0%
8.9%DKK 840.00DKK 625.00n/a7
May ’25DKK 625.00
DKK 782.00
+25.1%
10.0%DKK 840.00DKK 600.00n/a7
Apr ’25DKK 684.25
DKK 754.29
+10.2%
14.4%DKK 840.00DKK 570.00n/a7
Mar ’25DKK 659.00
DKK 598.67
-9.2%
26.1%DKK 800.00DKK 382.00DKK 659.006
Feb ’25n/a
DKK 423.33
0%
11.2%DKK 485.00DKK 355.00n/a6
Jan ’25DKK 361.10
DKK 379.00
+5.0%
11.7%DKK 430.00DKK 295.00n/a6
Dec ’24DKK 336.50
DKK 365.33
+8.6%
9.3%DKK 400.00DKK 295.00n/a6
Nov ’24DKK 288.80
DKK 343.83
+19.1%
9.3%DKK 380.00DKK 295.00DKK 823.506
Oct ’24n/a
DKK 343.83
0%
9.3%DKK 380.00DKK 295.00DKK 821.756
Sep ’24n/a
DKK 314.50
0%
12.5%DKK 380.00DKK 270.00DKK 885.506
Aug ’24n/a
DKK 295.17
0%
11.4%DKK 340.00DKK 235.00DKK 911.006
Jul ’24DKK 245.00
DKK 295.17
+20.5%
11.4%DKK 340.00DKK 235.00n/a6
Jun ’24n/a
DKK 295.17
0%
11.4%DKK 340.00DKK 235.00DKK 628.506
May ’24DKK 242.20
DKK 291.83
+20.5%
11.3%DKK 340.00DKK 235.00DKK 625.006
Apr ’24DKK 215.20
DKK 294.20
+36.7%
11.3%DKK 333.00DKK 235.00DKK 684.255
Mar ’24DKK 228.40
DKK 257.33
+12.7%
5.3%DKK 275.00DKK 235.00DKK 659.006
Analyst Price Target
Consensus Narrative from 12 Analysts
DKK 960.17
Fair Value
31.4% undervalued intrinsic discount
12
Number of Analysts

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

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/28 22:30
End of Day Share Price 2025/02/28 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Zealand Pharma A/S is covered by 24 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Laura HindleyBerenberg
Kerry HolfordBerenberg
Charlie HaywoodBofA Global Research