Zealand Pharma A/S

LSE:0NZU Stock Report

Market Cap: DKK 47.8b

Zealand Pharma Valuation

Is 0NZU 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-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 0NZU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0NZU (DKK681.25) is trading above our estimate of fair value (DKK167.82)

Significantly Below Fair Value: 0NZU is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0NZU?

Key metric: As 0NZU barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 0NZU. This is calculated by dividing 0NZU's market cap by their current book value.
What is 0NZU's PB Ratio?
PB Ratio5.4x
BookDKK 8.88b
Market CapDKK 47.79b

Price to Book Ratio vs Peers

How does 0NZU's PB Ratio compare to its peers?

The above table shows the PB ratio for 0NZU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average7.1x
GNS Genus
2x37.0%UK£1.1b
OXB Oxford Biomedica
6.5x93.2%UK£432.0m
BVXP Bioventix
16.3xn/aUK£195.7m
AVCT Avacta Group
3.4x-0.4%UK£165.4m
0NZU Zealand Pharma
5.4x65.8%DKK 47.8b

Price-To-Book vs Peers: 0NZU is good value based on its Price-To-Book Ratio (5.4x) compared to the peer average (7.1x).

Price to Book Ratio vs Industry

How does 0NZU's PB Ratio compare vs other companies in the GB Biotechs Industry?

4 CompaniesPrice / BookEstimated GrowthMarket Cap
DEST Destiny Pharma
0.3x-15.5%US$5.85m
BDRX Biodexa Pharmaceuticals
0.5xn/aUS$4.42m
LLAI LungLife AI
0.4x101.0%US$3.19m
VAL ValiRx
0.5xn/aUS$2.59m
No more companies available in this PB range
0NZU 5.4xIndustry Avg. 2.7xNo. of Companies7PB02.44.87.29.612+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: 0NZU is expensive based on its Price-To-Book Ratio (5.4x) compared to the UK Biotechs industry average (2.7x).

Price to Book Ratio vs Fair Ratio

What is 0NZU'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.

0NZU 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 0NZU'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 0NZU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentDKK 681.25
DKK 1,018.50
+49.5%
10.8%DKK 1,100.00DKK 815.00n/a10
Nov ’25DKK 825.26
DKK 1,007.89
+22.1%
11.7%DKK 1,106.00DKK 800.00n/a9
Oct ’25DKK 820.00
DKK 1,022.29
+24.7%
10.3%DKK 1,106.00DKK 800.00n/a7
Sep ’25DKK 889.50
DKK 1,015.14
+14.1%
10.0%DKK 1,106.00DKK 800.00n/a7
Aug ’25DKK 931.00
DKK 989.86
+6.3%
9.6%DKK 1,100.00DKK 800.00n/a7
Jul ’25DKK 924.99
DKK 918.00
-0.8%
12.2%DKK 1,100.00DKK 800.00n/a6
Jun ’25DKK 626.23
DKK 785.57
+25.4%
8.9%DKK 840.00DKK 625.00n/a7
May ’25DKK 627.00
DKK 782.00
+24.7%
10.0%DKK 840.00DKK 600.00n/a7
Apr ’25DKK 681.50
DKK 754.29
+10.7%
14.4%DKK 840.00DKK 570.00n/a7
Mar ’25DKK 653.62
DKK 598.67
-8.4%
26.1%DKK 800.00DKK 382.00n/a6
Feb ’25DKK 470.36
DKK 423.33
-10.0%
11.2%DKK 485.00DKK 355.00n/a6
Jan ’25DKK 377.98
DKK 379.00
+0.3%
11.7%DKK 430.00DKK 295.00n/a6
Dec ’24DKK 331.50
DKK 365.33
+10.2%
9.3%DKK 400.00DKK 295.00n/a6
Nov ’24DKK 299.00
DKK 343.83
+15.0%
9.3%DKK 380.00DKK 295.00DKK 825.266
Oct ’24DKK 317.00
DKK 343.83
+8.5%
9.3%DKK 380.00DKK 295.00DKK 820.006
Sep ’24DKK 256.50
DKK 314.50
+22.6%
12.5%DKK 380.00DKK 270.00DKK 889.506
Aug ’24DKK 237.20
DKK 295.17
+24.4%
11.4%DKK 340.00DKK 235.00DKK 931.006
Jul ’24DKK 240.37
DKK 295.17
+22.8%
11.4%DKK 340.00DKK 235.00DKK 924.996
Jun ’24DKK 264.60
DKK 295.17
+11.6%
11.4%DKK 340.00DKK 235.00DKK 626.236
May ’24DKK 224.48
DKK 291.83
+30.0%
11.3%DKK 340.00DKK 235.00DKK 627.006
Apr ’24DKK 221.45
DKK 294.20
+32.9%
11.3%DKK 333.00DKK 235.00DKK 681.505
Mar ’24DKK 217.22
DKK 257.33
+18.5%
5.3%DKK 275.00DKK 235.00DKK 653.626
Feb ’24DKK 213.01
DKK 251.67
+18.1%
5.9%DKK 275.00DKK 234.00DKK 470.366
Jan ’24DKK 204.55
DKK 241.50
+18.1%
8.9%DKK 275.00DKK 205.00DKK 377.986
Dec ’23DKK 201.58
DKK 235.83
+17.0%
11.2%DKK 275.00DKK 200.00DKK 331.506
Nov ’23DKK 201.57
DKK 235.83
+17.0%
11.2%DKK 275.00DKK 200.00DKK 299.006

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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