Hansa Biopharma Valuation

Is HNSA 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-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate HNSA's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate HNSA's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As HNSA is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HNSA. This is calculated by dividing HNSA's market cap by their current revenue.
What is HNSA's PS Ratio?
PS Ratio	13.1x
Sales	SEK 189.39m
Market Cap	SEK 2.48b

HNSA 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/Revenue	15.3x
Enterprise Value/EBITDA	-4.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for HNSA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	23.6x
DVYSR Devyser Diagnostics	9.6x	31.3%	SEK 1.9b
EGTX Egetis Therapeutics	34.1x	91.5%	SEK 2.3b
CRNO B Cereno Scientific	16.9x	-11.4%	SEK 1.5b
SANION Saniona	33.9x	38.0%	SEK 902.9m
HNSA Hansa Biopharma	13.1x	45.8%	SEK 2.5b

Price-To-Sales vs Peers: HNSA is good value based on its Price-To-Sales Ratio (13.1x) compared to the peer average (23.6x).

Price to Sales Ratio vs Industry

How does HNSA's PS Ratio compare vs other companies in the SE Biotechs Industry?

8 Companies	Price / Sales	Estimated Growth	Market Cap
XBRANE Xbrane Biopharma	1.2x	61.1%	US$22.57m
SPRINT Sprint Bioscience	1.8x	27.6%	US$10.29m
LPGO Lipigon Pharmaceuticals	2.6x	127.1%	US$2.15m
GEAN Genetic Analysis	1.2x	n/a	US$2.00m

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: HNSA is good value based on its Price-To-Sales Ratio (13.1x) compared to the Swedish Biotechs industry average (14x).

Price to Sales Ratio vs Fair Ratio

What is HNSA'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.

HNSA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	13.1x
Fair PS Ratio	9.8x

Price-To-Sales vs Fair Ratio: HNSA is expensive based on its Price-To-Sales Ratio (13.1x) compared to the estimated Fair Price-To-Sales Ratio (9.8x).

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 HNSA forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	SEK 36.64	SEK 100.50 +174.3%	52.4%	SEK 175.00	SEK 46.00	n/a	4
Dec ’25	SEK 32.50	SEK 99.25 +205.4%	52.5%	SEK 175.00	SEK 46.00	n/a	4
Nov ’25	SEK 36.68	SEK 100.00 +172.6%	51.5%	SEK 175.00	SEK 46.00	n/a	4
Oct ’25	SEK 39.56	SEK 100.00 +152.8%	51.5%	SEK 175.00	SEK 46.00	n/a	4
Sep ’25	SEK 55.20	SEK 100.00 +81.2%	51.5%	SEK 175.00	SEK 46.00	n/a	4
Aug ’25	SEK 39.96	SEK 100.00 +150.3%	51.5%	SEK 175.00	SEK 46.00	n/a	4
Jul ’25	SEK 46.00	SEK 105.00 +128.3%	44.7%	SEK 175.00	SEK 57.00	n/a	4
Jun ’25	SEK 49.64	SEK 105.00 +111.5%	44.7%	SEK 175.00	SEK 57.00	n/a	4
May ’25	SEK 28.94	SEK 105.00 +262.8%	44.7%	SEK 175.00	SEK 57.00	n/a	4
Apr ’25	SEK 29.10	SEK 112.50 +286.6%	36.9%	SEK 174.00	SEK 57.00	n/a	4
Mar ’25	SEK 32.26	SEK 112.50 +248.7%	36.9%	SEK 174.00	SEK 57.00	n/a	4
Feb ’25	SEK 34.00	SEK 91.00 +167.6%	58.0%	SEK 173.00	SEK 16.00	n/a	5
Jan ’25	SEK 26.20	SEK 108.33 +313.5%	57.1%	SEK 195.00	SEK 16.00	n/a	6
Dec ’24	SEK 25.50	SEK 123.00 +382.4%	47.3%	SEK 195.00	SEK 16.00	SEK 32.50	6
Nov ’24	SEK 23.10	SEK 123.00 +432.5%	47.3%	SEK 195.00	SEK 16.00	SEK 36.68	6
Oct ’24	SEK 34.40	SEK 167.50 +386.9%	22.4%	SEK 224.00	SEK 109.00	SEK 39.56	6
Sep ’24	SEK 43.82	SEK 167.50 +282.2%	22.4%	SEK 224.00	SEK 109.00	SEK 55.20	6
Aug ’24	SEK 54.30	SEK 167.50 +208.5%	22.4%	SEK 224.00	SEK 109.00	SEK 39.96	6
Jul ’24	SEK 43.46	SEK 168.50 +287.7%	23.8%	SEK 224.00	SEK 112.00	SEK 46.00	6
Jun ’24	SEK 45.74	SEK 168.50 +268.4%	23.8%	SEK 224.00	SEK 112.00	SEK 49.64	6
May ’24	SEK 50.35	SEK 171.29 +240.2%	19.8%	SEK 224.00	SEK 128.00	SEK 28.94	7
Apr ’24	SEK 51.25	SEK 176.83 +245.0%	22.8%	SEK 241.00	SEK 128.00	SEK 29.10	6
Mar ’24	SEK 53.85	SEK 176.83 +228.4%	22.8%	SEK 241.00	SEK 128.00	SEK 32.26	6
Feb ’24	SEK 61.45	SEK 177.60 +189.0%	24.9%	SEK 245.00	SEK 128.00	SEK 34.00	5
Jan ’24	SEK 49.22	SEK 176.20 +258.0%	26.0%	SEK 245.00	SEK 121.00	SEK 26.20	5
Dec ’23	SEK 54.50	SEK 176.20 +223.3%	26.0%	SEK 245.00	SEK 121.00	SEK 25.50	5

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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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/19 04:08
End of Day Share Price	2024/12/19 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 here.

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 .

Analyst Sources

Hansa Biopharma AB (publ) is covered by 15 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Christian Lee	ABG Sundal Collier Sponsored
Madhu Kumar	B. Riley Securities, Inc.