BioArctic AB (publ)

LSE:0RV2 Stock Report

Market Cap: SEK 16.7b

BioArctic Valuation

Is 0RV2 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 0RV2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0RV2 (SEK190.53) is trading below our estimate of fair value (SEK349.28)

Significantly Below Fair Value: 0RV2 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0RV2?

Key metric: As 0RV2 barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 0RV2. This is calculated by dividing 0RV2's market cap by their current book value.
What is 0RV2's PB Ratio?
PB Ratio18.2x
BookSEK 918.63m
Market CapSEK 16.71b

Price to Book Ratio vs Peers

How does 0RV2's PB Ratio compare to its peers?

The above table shows the PB ratio for 0RV2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average7.2x
GNS Genus
2x37.7%UK£1.1b
AVCT Avacta Group
3.8x-2.1%UK£182.9m
OXB Oxford Biomedica
6.7x93.2%UK£447.3m
BVXP Bioventix
16.3xn/aUK£195.7m
0RV2 BioArctic
18.2x62.5%SEK 16.7b

Price-To-Book vs Peers: 0RV2 is expensive based on its Price-To-Book Ratio (18.2x) compared to the peer average (7.2x).

Price to Book Ratio vs Industry

How does 0RV2'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$3.46m
VAL ValiRx
0.6xn/aUS$2.78m
No more companies available in this PB range
0RV2 18.2xIndustry Avg. 2.9xNo. of Companies7PB02.44.87.29.612+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: 0RV2 is expensive based on its Price-To-Book Ratio (18.2x) compared to the UK Biotechs industry average (2.9x).

Price to Book Ratio vs Fair Ratio

What is 0RV2'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.

0RV2 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio18.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 0RV2'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 0RV2 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentSEK 190.53
SEK 322.00
+69.0%
6.5%SEK 350.00SEK 292.00n/a5
Nov ’25SEK 144.44
SEK 292.20
+102.3%
8.5%SEK 340.00SEK 270.00n/a5
Oct ’25SEK 157.90
SEK 290.60
+84.0%
8.8%SEK 340.00SEK 270.00n/a5
Sep ’25SEK 171.08
SEK 290.60
+69.9%
8.8%SEK 340.00SEK 270.00n/a5
Aug ’25SEK 159.10
SEK 336.40
+111.4%
8.1%SEK 370.00SEK 290.00n/a5
Jul ’25SEK 232.79
SEK 368.00
+58.1%
11.8%SEK 450.00SEK 325.00n/a5
Jun ’25SEK 240.81
SEK 368.00
+52.8%
11.8%SEK 450.00SEK 325.00n/a5
May ’25SEK 194.30
SEK 366.20
+88.5%
12.2%SEK 450.00SEK 325.00n/a5
Apr ’25SEK 213.10
SEK 366.20
+71.8%
12.2%SEK 450.00SEK 325.00n/a5
Mar ’25SEK 217.63
SEK 365.20
+67.8%
12.2%SEK 450.00SEK 325.00n/a5
Feb ’25SEK 216.24
SEK 376.40
+74.1%
8.8%SEK 440.00SEK 342.00n/a5
Jan ’25SEK 275.60
SEK 369.33
+34.0%
11.1%SEK 450.00SEK 312.00n/a6
Dec ’24SEK 231.03
SEK 372.40
+61.2%
11.9%SEK 450.00SEK 312.00n/a5
Nov ’24SEK 220.46
SEK 392.00
+77.8%
8.8%SEK 450.00SEK 356.00SEK 144.445
Oct ’24SEK 281.20
SEK 392.00
+39.4%
8.8%SEK 450.00SEK 356.00SEK 157.905
Sep ’24SEK 312.20
SEK 392.00
+25.6%
8.8%SEK 450.00SEK 356.00SEK 171.085
Aug ’24SEK 298.80
SEK 392.00
+31.2%
8.8%SEK 450.00SEK 356.00SEK 159.105
Jul ’24SEK 282.00
SEK 395.20
+40.1%
10.6%SEK 460.00SEK 356.00SEK 232.795
Jun ’24SEK 326.20
SEK 395.20
+21.2%
10.6%SEK 460.00SEK 356.00SEK 240.815
May ’24SEK 264.71
SEK 395.20
+49.3%
10.6%SEK 460.00SEK 356.00SEK 194.305
Apr ’24SEK 252.89
SEK 399.20
+57.9%
9.9%SEK 460.00SEK 356.00SEK 213.105
Mar ’24SEK 295.39
SEK 399.20
+35.1%
9.9%SEK 460.00SEK 356.00SEK 217.635
Feb ’24SEK 311.39
SEK 367.80
+18.1%
22.5%SEK 460.00SEK 220.00SEK 216.245
Jan ’24SEK 278.90
SEK 356.20
+27.7%
23.3%SEK 460.00SEK 220.00SEK 275.605
Dec ’23SEK 288.43
SEK 356.20
+23.5%
23.3%SEK 460.00SEK 220.00SEK 231.035
Nov ’23SEK 233.14
SEK 356.25
+52.8%
26.0%SEK 460.00SEK 220.00SEK 220.464

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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