NasdaqGM:BLCM

Stock Analysis Report

Executive Summary

Bellicum Pharmaceuticals, Inc., a clinical stage biopharmaceutical company, focuses on discovering and developing novel cellular immunotherapies for the treatment of hematological cancers, solid tumors, and orphan inherited blood disorders in the United States and internationally.

Rewards

Trading at 93.6% below its fair value

Revenue is forecast to grow 58.33% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year

Does not have meaningful revenue ($2M)



Snowflake Analysis

Adequate balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has Bellicum Pharmaceuticals's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BLCM's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

38.0%

BLCM

0.9%

US Biotechs

2.0%

US Market


1 Year Return

-32.2%

BLCM

11.3%

US Biotechs

23.5%

US Market

Return vs Industry: BLCM underperformed the US Biotechs industry which returned 10.9% over the past year.

Return vs Market: BLCM underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

BLCMIndustryMarket
7 Day38.0%0.9%2.0%
30 Day129.0%1.2%4.3%
90 Day186.3%21.3%12.2%
1 Year-32.2%-32.2%12.2%11.3%26.1%23.5%
3 Year-81.8%-81.8%29.0%24.7%53.1%43.2%
5 Year-90.5%-90.5%4.3%-0.6%75.5%56.1%

Price Volatility Vs. Market

How volatile is Bellicum Pharmaceuticals's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Bellicum Pharmaceuticals undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BLCM ($1.75) is trading below our estimate of fair value ($27.19)

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


Price To Earnings Ratio

PE vs Industry: BLCM is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: BLCM is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BLCM's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BLCM is overvalued based on its PB Ratio (70.6x) compared to the US Biotechs industry average (3.2x).


Next Steps

Future Growth

How is Bellicum Pharmaceuticals forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

42.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BLCM is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BLCM is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BLCM is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: BLCM's revenue (58.3% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: BLCM's revenue (58.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if BLCM's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Bellicum Pharmaceuticals performed over the past 5 years?

-10.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BLCM is currently unprofitable.

Growing Profit Margin: BLCM is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BLCM is unprofitable, and losses have increased over the past 5 years at a rate of -10.4% per year.

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

Earnings vs Industry: BLCM is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (103.3%).


Return on Equity

High ROE: BLCM has a negative Return on Equity (-484.81%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Bellicum Pharmaceuticals's financial position?


Financial Position Analysis

Short Term Liabilities: BLCM's short term assets ($104.9M) exceed its short term liabilities ($76.4M).

Long Term Liabilities: BLCM's short term assets ($104.9M) exceed its long term liabilities ($34.7M).


Debt to Equity History and Analysis

Debt Level: BLCM's debt to equity ratio (159.8%) is considered high.

Reducing Debt: BLCM's debt to equity ratio has increased from 19.7% to 159.8% over the past 5 years.


Balance Sheet

Inventory Level: BLCM has a low level of unsold assets or inventory.

Debt Coverage by Assets: BLCM's debt is covered by short term assets (assets are 2.9x debt).


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: BLCM has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: BLCM has sufficient cash runway for 1.5 years if free cash flow continues to reduce at historical rates of -9.4% each year.


Next Steps

Dividend

What is Bellicum Pharmaceuticals's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BLCM's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Bellicum Pharmaceuticals's salary, the management and board of directors tenure and is there insider trading?

2.3yrs

Average management tenure


CEO

Rick Fair (50yo)

3yrs

Tenure

US$3,278,125

Compensation

Mr. Richard A. Fair, also known as Rick, serves as Director of Clovis Oncology, Inc since October 11, 2018.served as Chief Executive Officer and President of Bellicum Pharmaceuticals, Inc. since January 31 ...


CEO Compensation Analysis

Compensation vs Market: Rick's total compensation ($USD3.28M) is above average for companies of similar size in the US market ($USD519.76K).

Compensation vs Earnings: Rick's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.3yrs

Average Tenure

47yo

Average Age

Experienced Management: BLCM's management team is considered experienced (2.3 years average tenure).


Board Age and Tenure

3.7yrs

Average Tenure

57yo

Average Age

Experienced Board: BLCM's board of directors are considered experienced (3.3 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyUS$50,00011 Sep 19
Richard Fair
EntityIndividual
Role
Chief Executive Officer
President
Shares40,000
Max PriceUS$1.25
BuyUS$9,82230 Aug 19
Shane Ward
EntityIndividual
Role
Chief Legal Officer
Chief Legal & Strategy Officer and Corporate Secretary
Shares8,000
Max PriceUS$1.23
BuyUS$19,78023 Aug 19
Richard Fair
EntityIndividual
Role
Chief Executive Officer
President
Shares20,000
Max PriceUS$0.99

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 20%.


Management Team

  • Atabak Mokari (42yo)

    Chief Financial Officer

    • Tenure: 1.1yrs
  • Alan Smith (61yo)

    Executive Vice President of Technical Operations

    • Tenure: 4.3yrs
    • Compensation: US$1.05m
  • Tom Farrell (56yo)

    Consultant

    • Tenure: 3yrs
    • Compensation: US$1.72m
  • Rick Fair (50yo)

    President

    • Tenure: 3yrs
    • Compensation: US$3.28m
  • Shane Ward (44yo)

    Chief Legal & Strategy Officer and Corporate Secretary

    • Tenure: 1.7yrs
    • Compensation: US$1.15m
  • Aaron Foster

    Head of Research & Senior VP

    • Tenure: 0.8yrs
  • David Strauss (33yo)

    Director


    Board Members

    • Steve Davis (58yo)

      Independent Director

      • Tenure: 4.5yrs
      • Compensation: US$124.47k
    • James Brown (54yo)

      Chairman of the Board

      • Tenure: 5.1yrs
      • Compensation: US$145.51k
    • Jim Daly (57yo)

      Independent Director

      • Tenure: 3.7yrs
      • Compensation: US$103.73k
    • Jon Stonehouse (58yo)

      Independent Director

      • Tenure: 5.1yrs
      • Compensation: US$128.79k
    • David Spencer (57yo)

      Member of Scientific & Clinical Advisory Board

      • Tenure: 0.8yrs
    • Rick Fair (50yo)

      President

      • Tenure: 3yrs
      • Compensation: US$3.28m
    • Reid Huber (47yo)

      Independent Director

      • Tenure: 5.3yrs
      • Compensation: US$125.66k
    • Judith Klimovsky (61yo)

      Independent Director

      • Tenure: 1.1yrs
      • Compensation: US$136.99k
    • Malcom Brenner

      Member of Scientific & Clinical Advisory Board

      • Tenure: 0.8yrs
    • David Strauss (33yo)

      Director

      Company Information

      Bellicum Pharmaceuticals, Inc.'s company bio, employee growth, exchange listings and data sources


      Key Information

      • Name: Bellicum Pharmaceuticals, Inc.
      • Ticker: BLCM
      • Exchange: NasdaqGM
      • Founded: 2004
      • Industry: Biotechnology
      • Sector: Pharmaceuticals & Biotech
      • Market Cap: US$114.328m
      • Shares outstanding: 49.92m
      • Website: https://www.bellicum.com

      Number of Employees


      Location

      • Bellicum Pharmaceuticals, Inc.
      • 2130 West Holcombe Boulevard
      • Suite 800
      • Houston
      • Texas
      • 77030
      • United States

      Listings

      TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
      BLCMNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDDec 2014
      BPXDB (Deutsche Boerse AG)YesCommon StockDEEURDec 2014
      0HMSLSE (London Stock Exchange)YesCommon StockGBUSDDec 2014

      Biography

      Bellicum Pharmaceuticals, Inc., a clinical stage biopharmaceutical company, focuses on discovering and developing novel cellular immunotherapies for the treatment of hematological cancers, solid tumors, and orphan inherited blood disorders in the United States and internationally. The company's clinical product candidates include Rivo-cel that is in Phase II/III clinical trials to improve hematopoietic stem cell transplantation outcomes in the treatment of hematologic malignancies, including leukemias, lymphomas, and inherited blood disorders; and BPX-601, an autologous GoCAR-T product candidate, which is in Phase I/II clinical trials for treating solid tumors expressing the prostate stem cell antigen. Its clinical product candidates also comprise BPX-603, a dual-switch GoCAR-T product candidate to treat solid tumors that express the human epidermal growth factor receptor 2 antigen; BPX-802, a dual switch Go-CAR-T product candidate to treat an antigen expressed in hematological malignancies; and BPX-701, a T cell receptor candidate, which is in Phase I clinical trial for the treatment of malignant cells expressing the preferentially-expressed antigen in melanoma It has collaboration and license agreements with Adaptimmune Therapeutics plc, Ospedale Pediatrico Bambino Gesù, Leiden University Medical Centre, Agensys, Inc., BioVec Pharma, Inc., Leiden University Medical Centre, ARIAD Pharmaceuticals, Inc., and Baylor College of Medicine. Bellicum Pharmaceuticals, Inc. was founded in 2004 and is headquartered in Houston, Texas. 


      Company Analysis and Financial Data Status

      All financial data provided by Standard & Poor's Capital IQ.
      DataLast Updated (UTC time)
      Company Analysis2020/01/18 00:38
      End of Day Share Price2020/01/17 00:00
      Earnings2019/09/30
      Annual Earnings2018/12/31


      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.