Lepu Biopharma Co Ltd (2157) Fair Value & Analysis
Healthcare · HK · Market cap HK$7.0B
Fair value as of: Aug 13, 2026
From 15 valuation models · updated 3 days ago
Fair value updated Aug 13, 2026, revised from HK$2.05 to HK$1.53 (−25.4%) since Aug 5, 2026. Share price −8.3% over the past month.
A solid business, but screening 66% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (HK$1.91). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
54‑month range HK$2.23 – HK$25.10 · fair‑value band HK$1.15 – HK$1.91 · the HK$4.49 price screens above the HK$1.53 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Lepu Biopharma Co Ltd (2157) currently trades at HK$4.49, while our model-based Fair Value estimate is HK$1.53, implying the stock looks roughly 65.9% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Lepu Biopharma Co Ltd generated revenue of HK$935M at a net margin of 28.0%. Revenue grew 100.0% year over year. It earns a return on equity of 25.3%. Net debt stands at HK$205M. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$1.15 (bear case) to HK$1.91 (bull case); at HK$4.49, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 57% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -47% fair-value upside, at -66%, 2157 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 15 models by family
Widest divergence: Growth Earnings (HK$6.56) versus Asset-Based (HK$0.5100). Highest evidence: ROIC Compounder (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 29
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Lepu Biopharma Co., Ltd., a biopharmaceutical company, focuses on the discovery, development, and commercialization of drug candidates in anti-tumor targeted therapy and oncology immunotherapy in China and internationally.
Full company description
Lepu Biopharma Co., Ltd., a biopharmaceutical company, focuses on the discovery, development, and commercialization of drug candidates in anti-tumor targeted therapy and oncology immunotherapy in China and internationally. The company offers PUYOUHENG (Pucotenlimab Injection), a humanized IgG4 mAb against human PD-1 for the treatment of MSI-H/dMMR solid tumors solid tumors and melanoma. It is also developing MRG003 that is in phase III clinical study for treating nasopharyngeal cancer, and head and neck squamous cell carcinoma; CMG901 CLDN18.2-targeted ADC, which is in phase III trials for treating gastric and gastroesophageal junction carcinoma and other solid tumors; and MRG004A TF-targeted ADC, which is in phase III clinical trial for treating pancreatic ductal adenocarcinoma. In addition, the company is developing CG00705 Oncolytic virus for treating bacillus calmette-guerin unresponsive non-muscle invasive bladder cancer; and MRG002, which is in phase III trials to treat breast cancer, as well as HER2-positive. Further, the company is developing MRG001 CD20-targeted ADC for treating non-Hodgkin's lymphoma; MRG006A, MRG007, and CTM012 for the treatment of solid tumors. Lepu Biopharma Co., Ltd. was incorporated in 2018 and is headquartered in Shanghai, China. Lepu Biopharma Co., Ltd. operates as a subsidiary of Ningbo Houde Yimin Information Technology Co., Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Lepu Biopharma Co Ltd reported revenue of HK$911M in FY2025 versus HK$0 in FY2021. Reported net income was HK$255M in FY2025.
2157 screens 66% overvalued. Compare with Vertex Pharmaceuticals Incorporated →
Peer Group
Biotechnology · 605 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Biotechnology median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $525.73 | $278.78 | -47% |
| Regeneron Pharmaceuticals, Inc REGN | $797.99 | $594.40 | -26% |
| Samsung Biologics Co 207940 | 1,549,000 KRW | 1,055,793 KRW | -32% |
| Celltrion, Inc 068270 | 202,000 KRW | 74,519 KRW | -63% |
| WuXi Biologics (Cayman) Inc 2269 | HK$45.70 | HK$30.58 | -33% |
| Innovent Biologics, Inc 1801 | HK$95.55 | HK$19.68 | -79% |
| Genmab A/S GMAB | kr 2,037 | kr 250.07 | -88% |
| Sino Biopharmaceutical Limited 1177 | HK$4.87 | HK$3.37 | -31% |
| RemeGen Co 688331 | ¥131.87 | ¥23.19 | -82% |
| ALTEOGEN Inc 196170 | 314,000 KRW | 39,476 KRW | -87% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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