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Alar Pharmaceuticals Inc. (6785) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Alar Pharmaceuticals Inc. TWD 33.96, price TWD 98.80, upside -65.6%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · TW

AP Thin data Sep 24, 2026

Alar Pharmaceuticals Inc.

6785 · TWO

Weakest SetupStrongly overvalued and low quality.

!Fair value 33.96 TWD · Strongly overvalued (−66%)
!Quality 36/100
!Mixed Growth (revenue 5y +35.6 %/yr)
!negative free cash flow
·0.10% dividend yield
!Trails peers (1/8)
!Narrow moat 13/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 2 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

456.24 TWD 43.24 TWD Fair Value 33.96 TWD Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 43.24 TWD – 456.24 TWD · fair‑value band 22.41 TWD – 42.45 TWD · the 98.80 TWD price screens above the 33.96 TWD fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Alar Pharmaceuticals Inc., a drug development company, focuses on developing long-acting release drug products for CNS disorders and chronic diseases in Taiwan. The company develops ALA-1000 for the treatment of opioid use disorder.

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Alar Pharmaceuticals Inc., a drug development company, focuses on developing long-acting release drug products for CNS disorders and chronic diseases in Taiwan. The company develops ALA-1000 for the treatment of opioid use disorder. Its pre-clinical stage product includes ALA-1300 and ALA-2000 for the treatment of opioid use disorder; ALA-4000 to treat Parkinson's disease; ALA-3000 for treating treatment-resistant depression; and ALA-5000 to treat schizophrenia. Alar Pharmaceuticals Inc. was founded in 2016 and is based in Taichung, Taiwan.

Stock analysis

Alar Pharmaceuticals Inc. (6785) currently trades at 98.80 TWD, while our model-based Fair Value estimate is 33.96 TWD, implying the stock looks roughly 191.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 22.41 TWD (bear) to 42.45 TWD (bull), the price of 98.80 TWD sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 36/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Alar Pharmaceuticals Inc. reported revenue of 2.8M TWD in FY2025 versus 0 TWD in FY2021. Reported net income was −79.7M TWD in FY2025.

Key figures

Market cap 6.6B TWD (≈ $207M) · EPS (TTM) −1.07 TWD · Dividend yield 0.1% · Return on equity −3.0% · Return on assets (EBIT) 2.5% · Operating margin 464% · Revenue (TTM) 3.0M TWD · Revenue growth (YoY) −0.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 68% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −8% fair-value upside, at −66%, 6785 screens richer than that median.

Fair Value models

Bear 22.41 TWD Fair Value 33.96 TWD Bull 42.45 TWD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) 17.99 TWD 24.10 TWD 35.98 TWD 51
All 1 models by family
Asset-Based
NCAV (Graham) 17.99 TWD 24.10 TWD 35.98 TWD 51

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Quality Score breakdown

Overall quality 36/100

Of which business quality 42 · Market factors (momentum, volatility) 21

Profitability 3
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 56
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 53
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 22/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−52.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+51.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+35.6%
Start year 2020 (pandemic)
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−23,794.0% (2020) → −6,095.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

6785 screens 191% overvalued. Compare with Merck KGaA →

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Peer Groupⓘ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.Drug Manufacturers - Specialty & Generic · 630 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 42 · Below median
Fair Value upside −66% · Bottom 25%
Profitability
Return on assets −4% · Bottom 25%
Growth and dividend
Revenue growth 0% · Below median
Dividend yield (TTM) 0.1% · Bottom 25%

Valuation Multiplesvs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/B 0.09× · Cheapest 25%
P/S (TTM) 69.15× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 14
FUTURE (revenue growth)0 · sector 20
PAST (return on equity)0 · sector 27
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)2 · sector 32

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Merck KGaA MRK €133.95 €108.70 −19%
Takeda Pharmaceutical Company TAK $18.81 $11.29 −40%
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥45.58 ¥50.14 +10%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,865 ₹1,979 +6%
Galderma Group GALD CHF 163.80 CHF 109.88 −33%
Haleon plc HLN $9.25 $8.50 −8%
Teva Pharmaceutical Industries Limited TEVA $39.01 $20.75 −47%
Sandoz Group SDZ CHF 70.76 CHF 40.16 −43%
Zoetis Inc ZTS $71.61 $108.48 +51%
Hansoh Pharmaceutical Group 3692 HK$35.34 HK$38.87 +10%

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Alar Pharmaceuticals Inc. · Fair Value
33.96 TWD −191%Fair Value
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Cite: Fair Value Calculator (2026). "Alar Pharmaceuticals Inc. Fair Value". https://www.fairvalue-calculator.com/stock/6785

Frequently asked questions

Is Alar Pharmaceuticals Inc. (6785) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 33.96 TWD versus a price of 98.80 TWD, about −66% upside (overvalued).
What is the fair value of 6785?
Our model-based fair value for Alar Pharmaceuticals Inc. is 33.96 TWD (as of Sep 24, 2026), built from audited fundamentals. The current price: 98.80 TWD.
What is the quality score of 6785?
Alar Pharmaceuticals Inc. has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Alar Pharmaceuticals Inc. (6785)?
Our model-based price target is the fair value of 33.96 TWD (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 22.41 TWD, optimistic scenario 42.45 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Alar Pharmaceuticals Inc. stock forecast for 2026?
Our models put fair value at 33.96 TWD, about −66% upside versus a price of 98.80 TWD (overvalued). Cautious scenario 22.41 TWD, optimistic scenario 42.45 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Alar Pharmaceuticals Inc. (6785)?
Alar Pharmaceuticals Inc. reported trailing-twelve-month revenue of about 3.0M TWD (latest available figure, as of Sep 24, 2026).
Does Alar Pharmaceuticals Inc. pay a dividend?
Alar Pharmaceuticals Inc. currently shows a dividend yield of about 0.10% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Alar Pharmaceuticals Inc. (6785)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alar Pharmaceuticals Inc. it is 33.96 TWD per share (as of Sep 24, 2026), against a price of 98.80 TWD. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Alar Pharmaceuticals Inc. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 6785 trades above its calculated fair value: price 98.80 TWD, fair value 33.96 TWD, a gap of about −66% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 6785?
No. The price is what the market pays today (98.80 TWD); the fair value is what the company's own numbers justify (33.96 TWD). For Alar Pharmaceuticals Inc. the two are 64.84 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Alar Pharmaceuticals Inc. worth?
The market values Alar Pharmaceuticals Inc. at about 6.6B TWD (market capitalisation, as of Sep 24, 2026). Per share that is 98.80 TWD; our models calculate a fair value of 33.96 TWD per share.
What do the bullish and bearish scenarios say about 6785?
Our models span a range for Alar Pharmaceuticals Inc.: cautious scenario 22.41 TWD, base 33.96 TWD, optimistic 42.45 TWD per share (as of Sep 24, 2026, price 98.80 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Alar Pharmaceuticals Inc. (6785)?
Balance-sheet figures for Alar Pharmaceuticals Inc. (as of Sep 24, 2026): return on equity −3.0%. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is 6785 from its 52-week high?
Alar Pharmaceuticals Inc. trades at 98.80 TWD, about 68% below its 52-week high of 308.69 TWD and 9% above the low of 90.70 TWD (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 33.96 TWD is for.
Which stocks are comparable to Alar Pharmaceuticals Inc.?
From the same area (Healthcare) we also value Merck KGaA, Takeda Pharmaceutical Company, Jiangsu Hengrui Pharmaceuticals Co, Sun Pharmaceutical Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Alar Pharmaceuticals Inc. stock attractive at the current price?
The data as of Sep 24, 2026: price 98.80 TWD, calculated fair value 33.96 TWD (−66%), Quality Score 36/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 6785 calculated?
We run Alar Pharmaceuticals Inc. through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 33.96 TWD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Alar Pharmaceuticals Inc. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Alar Pharmaceuticals Inc. (6785)?
The closing price on Sep 24, 2026 was 98.80 TWD. Our model-based fair value is 33.96 TWD, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alar Pharmaceuticals Inc. right now?
The price sits above even our optimistic bull case (42.45 TWD). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (22.41 TWD to 42.45 TWD) leaves room in how you read the outcome.

Key figures of Alar Pharmaceuticals Inc.

How large is the market capitalisation of Alar Pharmaceuticals Inc. (6785)?
The market capitalisation of Alar Pharmaceuticals Inc. is 6.6B TWD (≈ $207M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Alar Pharmaceuticals Inc. (6785)?
Earnings per share at Alar Pharmaceuticals Inc. are −1.07 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Alar Pharmaceuticals Inc. (6785)?
The dividend yield of Alar Pharmaceuticals Inc. is 0.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the return on equity of Alar Pharmaceuticals Inc. (6785)?
The return on equity (ROE) of Alar Pharmaceuticals Inc. is −3.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Alar Pharmaceuticals Inc. (6785)?
On an EBIT basis the return on assets of Alar Pharmaceuticals Inc. is 2.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Alar Pharmaceuticals Inc. (6785)?
The operating margin of Alar Pharmaceuticals Inc. is 464% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alar Pharmaceuticals Inc. (6785)?
Revenue at Alar Pharmaceuticals Inc. is growing −0.2% versus a year earlier (3y avg +51.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Alar Pharmaceuticals Inc. (6785)?
Earnings per share at Alar Pharmaceuticals Inc. are growing −94.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Alar Pharmaceuticals Inc. (6785) generate?
The free cash flow of Alar Pharmaceuticals Inc. is −174M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Alar Pharmaceuticals Inc. (6785) hold?
Alar Pharmaceuticals Inc. holds more cash than debt, 738M TWD net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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