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CALT

Calliditas Therapeutics OM:CALTX Stock Report

Last Price

kr112.10

Market Cap

kr6.6b

7D

-1.8%

1Y

3.4%

Updated

15 Aug, 2022

Data

Company Financials +
CALTX fundamental analysis
Snowflake Score
Valuation3/6
Future Growth6/6
Past Performance0/6
Financial Health5/6
Dividends0/6

CALTX Stock Overview

Calliditas Therapeutics AB (publ), a clinical-stage biopharmaceutical company, focused on identifying, developing, and commercializing pharmaceuticals products for treatments in orphan indications with initial focus on renal and hepatic diseases.

Calliditas Therapeutics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Calliditas Therapeutics
Historical stock prices
Current Share Pricekr112.10
52 Week Highkr139.60
52 Week Lowkr62.00
Beta1.39
1 Month Change18.69%
3 Month Change51.38%
1 Year Change3.41%
3 Year Change107.98%
5 Year Changen/a
Change since IPO138.54%

Recent News & Updates

Aug 03
Is Calliditas Therapeutics (STO:CALTX) Using Too Much Debt?

Is Calliditas Therapeutics (STO:CALTX) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Shareholder Returns

CALTXSE PharmaceuticalsSE Market
7D-1.8%4.2%2.3%
1Y3.4%-18.1%-21.8%

Return vs Industry: CALTX exceeded the Swedish Pharmaceuticals industry which returned -18.1% over the past year.

Return vs Market: CALTX exceeded the Swedish Market which returned -21.8% over the past year.

Price Volatility

Is CALTX's price volatile compared to industry and market?
CALTX volatility
CALTX Average Weekly Movement9.1%
Pharmaceuticals Industry Average Movement7.8%
Market Average Movement7.2%
10% most volatile stocks in SE Market12.6%
10% least volatile stocks in SE Market4.5%

Stable Share Price: CALTX is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: CALTX's weekly volatility (9%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200471Renee Aguiar-Lucanderhttps://www.calliditas.se

Calliditas Therapeutics AB (publ), a clinical-stage biopharmaceutical company, focused on identifying, developing, and commercializing pharmaceuticals products for treatments in orphan indications with initial focus on renal and hepatic diseases. It offers Nefecon, an oral formulation of budesonide that is an immunosuppressant for the treatment of the autoimmune renal disease immunoglobulin A nephropathy. The company’s lead product candidate is Setanaxib, a NOX inhibitor that is in Phase 2b/3 clinical trial for the treatment of primary biliary cholangitis; and in Phase 2 clinical trial for the treatment of squamous cell carcinoma of the head and neck cancer and idiopathic pulmonary fibrosis, as well as for type 1 diabetic kidney disease.

Calliditas Therapeutics Fundamentals Summary

How do Calliditas Therapeutics's earnings and revenue compare to its market cap?
CALTX fundamental statistics
Market Capkr6.63b
Earnings (TTM)-kr576.47m
Revenue (TTM)kr279.08m

23.8x

P/S Ratio

-11.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CALTX income statement (TTM)
Revenuekr279.08m
Cost of Revenuekr614.00k
Gross Profitkr278.47m
Other Expenseskr854.94m
Earnings-kr576.47m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 18, 2022

Earnings per share (EPS)-9.74
Gross Margin99.78%
Net Profit Margin-206.56%
Debt/Equity Ratio22.1%

How did CALTX perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

CALTX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue21.6x
Enterprise Value/EBITDA-10.5x
PEG Ration/a

Price to Sales Ratio vs Peers

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

CALTX PS Ratio vs Peers
The above table shows the PS ratio for CALTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average8x
KARO Karo Pharma
4xn/akr14.0b
CAMX Camurus
16.7x31.9%kr13.1b
SECARE Swedencare
9.3x20.8%kr12.3b
ORX Orexo
1.8x10.5%kr1.1b
CALTX Calliditas Therapeutics
23.8x52.4%kr6.6b

Price-To-Sales vs Peers: CALTX is expensive based on its Price-To-Sales Ratio (23.8x) compared to the peer average (8x).


Price to Earnings Ratio vs Industry

How does CALTX's PE Ratio compare vs other companies in the SE Pharmaceuticals Industry?

Price-To-Sales vs Industry: CALTX is expensive based on its Price-To-Sales Ratio (23.8x) compared to the Swedish Pharmaceuticals industry average (15x)


Price to Sales Ratio vs Fair Ratio

What is CALTX'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.

CALTX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio23.8x
Fair PS Ratio66.2x

Price-To-Sales vs Fair Ratio: CALTX is good value based on its Price-To-Sales Ratio (23.8x) compared to the estimated Fair Price-To-Sales Ratio (66.2x).


Share Price vs Fair Value

What is the Fair Price of CALTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CALTX (SEK112.1) is trading below our estimate of fair value (SEK6618.43)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Calliditas Therapeutics forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


60.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CALTX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.4%).

Earnings vs Market: CALTX is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CALTX is expected to become profitable in the next 3 years.

Revenue vs Market: CALTX's revenue (52.4% per year) is forecast to grow faster than the Swedish market (10.9% per year).

High Growth Revenue: CALTX's revenue (52.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CALTX's Return on Equity is forecast to be very high in 3 years time (83.7%).


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Past Performance

How has Calliditas Therapeutics performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-51.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CALTX is currently unprofitable.

Growing Profit Margin: CALTX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CALTX is unprofitable, and losses have increased over the past 5 years at a rate of 51.6% per year.

Accelerating Growth: Unable to compare CALTX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CALTX is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (18.2%).


Return on Equity

High ROE: CALTX has a negative Return on Equity (-67.01%), as it is currently unprofitable.


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Financial Health

How is Calliditas Therapeutics's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: CALTX's short term assets (SEK896.5M) exceed its short term liabilities (SEK167.1M).

Long Term Liabilities: CALTX's short term assets (SEK896.5M) exceed its long term liabilities (SEK306.1M).


Debt to Equity History and Analysis

Debt Level: CALTX has more cash than its total debt.

Reducing Debt: CALTX had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CALTX has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if CALTX has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


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Dividend

What is Calliditas Therapeutics's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate CALTX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CALTX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CALTX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CALTX's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CALTX has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

2.6yrs

Average management tenure


CEO

Renee Aguiar-Lucander (60 yo)

5.25yrs

Tenure

kr10,730,000

Compensation

Ms. Renee Aguiar-Lucander serves as Director at Genkyotex SA since November 2020. Ms. Aguiar-Lucander has been Chief Executive Officer of Calliditas Therapeutics AB (publ) since May 2017. Prior to joining...


CEO Compensation Analysis

Compensation vs Market: Renee's total compensation ($USD1.04M) is above average for companies of similar size in the Swedish market ($USD796.68K).

Compensation vs Earnings: Renee's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: CALTX's management team is considered experienced (2.6 years average tenure).


Board Members

Experienced Board: CALTX's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 13%.


Top Shareholders

Company Information

Calliditas Therapeutics AB (publ)'s employee growth, exchange listings and data sources


Key Information

  • Name: Calliditas Therapeutics AB (publ)
  • Ticker: CALTX
  • Exchange: OM
  • Founded: 2004
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: kr6.632b
  • Shares outstanding: 59.16m
  • Website: https://www.calliditas.se

Number of Employees


Location

  • Calliditas Therapeutics AB (publ)
  • Kungsbron 1, D5
  • Stockholm
  • Stockholm County
  • 111 22
  • Sweden

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/15 00:00
End of Day Share Price2022/08/15 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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 here.