Keymed Biosciences Inc.

SHSC:2162 Stock Report

Market Cap: HK$10.5b

Keymed Biosciences Valuation

Is 2162 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • 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 2162 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2162 (HK$38.2) is trading below our estimate of fair value (HK$178.62)

Significantly Below Fair Value: 2162 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2162?

Key metric: As 2162 barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 2162. This is calculated by dividing 2162's market cap by their current book value.
What is 2162's PB Ratio?
PB Ratio3.7x
BookCN¥2.64b
Market CapCN¥9.80b

Price to Book Ratio vs Peers

How does 2162's PB Ratio compare to its peers?

The above table shows the PB ratio for 2162 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average4.8x
2563 Beijing Biostar Pharmaceuticals
13.6xn/aHK$10.5b
2696 Shanghai Henlius Biotech
4x7.3%HK$11.0b
6826 Shanghai Haohai Biological Technology
1x16.8%HK$13.9b
1530 3SBio
0.8x14.6%HK$13.0b
2162 Keymed Biosciences
3.7x16.0%HK$10.5b

Price-To-Book vs Peers: 2162 is good value based on its Price-To-Book Ratio (3.7x) compared to the peer average (4.8x).

Price to Book Ratio vs Industry

How does 2162's PB Ratio compare vs other companies in the HK Biotechs Industry?

3 CompaniesPrice / BookEstimated GrowthMarket Cap
2137 Brii Biosciences
0.2x-7.4%US$93.93m
2126 JW (Cayman) Therapeutics
0.3x-1.8%US$68.60m
6628 Transcenta Holding
0.3x12.7%US$40.05m
No more companies available in this PB range
2162 3.7xIndustry Avg. 2.3xNo. of Companies8PB01.63.24.86.48+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: 2162 is expensive based on its Price-To-Book Ratio (3.7x) compared to the Hong Kong Biotechs industry average (2.3x).

Price to Book Ratio vs Fair Ratio

What is 2162'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.

2162 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3.7x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 2162'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 2162 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentHK$38.20
HK$55.14
+44.3%
8.3%HK$60.94HK$48.88n/a6
Nov ’25HK$43.65
HK$58.18
+33.3%
10.6%HK$70.02HK$50.35n/a7
Oct ’25HK$41.70
HK$58.18
+39.5%
10.6%HK$70.02HK$50.35n/a7
Sep ’25HK$35.25
HK$57.50
+63.1%
10.7%HK$69.53HK$49.99n/a7
Aug ’25HK$32.20
HK$57.79
+79.5%
8.9%HK$68.15HK$49.73n/a7
Jul ’25HK$33.75
HK$57.79
+71.2%
8.9%HK$68.15HK$49.73n/a7
Jun ’25HK$32.20
HK$57.96
+80.0%
8.9%HK$68.43HK$49.93n/a7
May ’25HK$33.95
HK$58.32
+71.8%
7.8%HK$68.30HK$52.96n/a7
Apr ’25HK$33.90
HK$59.56
+75.7%
8.6%HK$68.42HK$52.77n/a5
Mar ’25HK$34.30
HK$75.28
+119.5%
5.6%HK$78.41HK$66.29n/a6
Feb ’25HK$31.80
HK$75.28
+136.7%
5.6%HK$78.41HK$66.29n/a6
Jan ’25HK$49.10
HK$75.28
+53.3%
5.6%HK$78.41HK$66.29n/a6
Dec ’24HK$55.85
HK$75.28
+34.8%
5.6%HK$78.41HK$66.29n/a6
Nov ’24HK$57.50
HK$75.01
+30.4%
6.3%HK$78.49HK$64.88HK$43.656
Oct ’24HK$49.90
HK$74.92
+50.1%
5.8%HK$78.50HK$65.01HK$41.707
Sep ’24HK$53.35
HK$75.43
+41.4%
5.8%HK$78.79HK$65.49HK$35.257
Aug ’24HK$55.60
HK$77.67
+39.7%
9.2%HK$88.69HK$65.81HK$32.206
Jul ’24HK$40.90
HK$85.55
+109.2%
6.1%HK$92.11HK$77.38HK$33.755
Jun ’24HK$41.20
HK$85.55
+107.6%
6.1%HK$92.11HK$77.38HK$32.205
May ’24HK$62.50
HK$86.19
+37.9%
5.7%HK$93.42HK$78.48HK$33.955
Apr ’24HK$58.00
HK$86.70
+49.5%
6.2%HK$93.32HK$78.40HK$33.904
Mar ’24n/a
HK$77.89
0%
12.1%HK$87.55HK$60.20HK$34.305
Feb ’24n/a
HK$65.70
0%
26.6%HK$81.59HK$38.90HK$31.804
Jan ’24n/a
HK$51.85
0%
17.2%HK$59.94HK$37.23HK$49.104
Dec ’23n/a
HK$51.85
0%
17.2%HK$59.94HK$37.23HK$55.854
Nov ’23n/a
HK$48.92
0%
17.4%HK$59.98HK$38.50HK$57.504

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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