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Alzinova AB (ALZ) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Alzinova AB stock SEK 0.22, price SEK 0.34, that is 34.9% below the price, quality 23 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare SE · ISIN SE0007413455

AA Alzinova AB logo Thin data Nov 10, 2026

Alzinova AB

ALZ · ST
Weak valuation

Our calculation puts a fair price 35% below what the stock costs today.

Low debt
Mixed vs. peers (3/6)
Revenue last quarter 57% below a year ago.
Fair value kr 0.2198 · Overvalued
Quality 23/100
Weak Growth (revenue 5y −66.2 %/yr in SEK)
Negative free cash flow
Narrow moat 12/100 · thin data
Thin data
Estimate

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Price vs Fair Value

kr 7.34 kr 0.3305 Fair Value kr 0.2198 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range kr 0.3305 – kr 7.34 · fair‑value band kr 0.1649 – kr 0.2748 · the kr 0.3375 price screens above the kr 0.2198 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Alzinova AB (publ), a clinical-stage biopharma company, develops immunotherapies treatment for Alzheimer's disease in Sweden. The company's lead product candidate is the ALZ-101, a therapeutic vaccine for the treatment of Alzheimer's disease, which has completed phase 1b clinical trial.

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It also develops ALZ-201, a monoclonal antibody that target and neutralize the neurotoxic forms of the peptide Aß42, called oligomers, which are considered to be the underlying cause of Alzheimer's disease; and a humanized version of ALZ-201 in patients with Alzheimer's disease that is in phase 1 clinical study.

It has a research collaboration with Amsterdam University Medical Center to develop a blood based test that measures naturally occurring antibodies against toxic amyloid ß oligomers. Alzinova AB (publ) was incorporated in 2011 and is based in Mölndal, Sweden.

Stock analysis

Alzinova AB (ALZ) currently trades at kr 0.3375, while our estimate is kr 0.2198, 35% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: kr 0.1649 (bear) to kr 0.2748 (bull), the price of kr 0.3375 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 23/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Alzinova AB reported revenue of 0 SEK in FY2025 versus 17.3M SEK in FY2021. Reported net income was −26.3M SEK in FY2025.

Key figures

Market cap 119M SEK (≈ $12.0M) Micro · EPS (TTM) kr −0.2100 · Return on equity −16.7% · Return on assets (EBIT) −13.3% (5-year average) · Operating margin −17,980% · Revenue (TTM) 149K SEK · Revenue growth (YoY) −56.5% · Free cash flow −39.6M SEK.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).

What moves the price

The share trades about 82% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −35%, ALZ screens richer than that median.

Fair Value

Bear kr 0.1649 Fair Value kr 0.2198 Bull kr 0.2748
Price kr 0.3375 · Downside -34.9%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 23/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 8
How much profit the company makes from its sales and capital
Quality Growth 24
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 50
Debt, balance sheet and risk of trouble
Investment 66
Does it invest with discipline instead of growing at any price?
Low Volatility 21
How calm the share price moves, does not count
Price momentum 2
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−88.9%
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.
−88.0%
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.
−66.2%
Revenue growth 12 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.
−30.1%
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.
−90.7% (2019) → −67,936.7% (2024)
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

ALZ screens overvalued: fair value 35% below the price. Compare with Vertex Pharmaceuticals Incorporated →

Compare Alzinova AB with another stock

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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.Biotechnology · 849 stocks

Beats the industry median on 2/5 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 23 · Bottom 25%
Fair Value upside −34.9% · Below median
Profitability
Return on assets −18.3% · Above median
Growth and dividend
Revenue growth (quarter YoY) −56.5% · Bottom 25%
Balance sheet
Debt / equity 0.01× · Below median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 0.97× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 20

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 Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs ALZ
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs ALZ
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs ALZ
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs ALZ
argenx SE ARGX $971.55 $908.40 −7% vs ALZ
CSL Limited CSL A$201.68 A$181.40 −10% vs ALZ
Moderna, Inc MRNA $250.83 $158.70 −37% vs ALZ
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs ALZ
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs ALZ
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs ALZ

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Alzinova AB: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Alzinova AB Fair Value". https://www.fairvalue-calculator.com/stock/ALZ

Frequently asked questions

Is Alzinova AB (ALZ) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is kr 0.2198 versus a price of kr 0.3375, about 35% lower (overvalued).
What is the fair value of ALZ?
Our estimate for Alzinova AB is kr 0.2198 (as of Nov 10, 2026), built from audited fundamentals. The current price: kr 0.3375.
What is the quality score of ALZ?
Alzinova AB has a Quality Score of 23/100. 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 Alzinova AB (ALZ)?
Our calculated price target is the estimate of kr 0.2198 (as of Nov 10, 2026). Cautious scenario kr 0.1649, optimistic scenario kr 0.2748. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Alzinova AB stock forecast for 2026?
Our estimate puts fair value at kr 0.2198, about 35% lower versus a price of kr 0.3375 (overvalued). Cautious scenario kr 0.1649, optimistic scenario kr 0.2748. The calculation is refreshed regularly with new filings.
What is the revenue of Alzinova AB (ALZ)?
Alzinova AB reported trailing-twelve-month revenue of about 149K SEK (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Alzinova AB (ALZ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alzinova AB it is kr 0.2198 per share (as of Nov 10, 2026), against a price of kr 0.3375.
Is Alzinova AB stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ALZ trades above its calculated fair value: price kr 0.3375, fair value kr 0.2198, a gap of about −35% (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 ALZ?
No. The price is what the market pays today (kr 0.3375); the fair value is what the company's own numbers justify (kr 0.2198). For Alzinova AB the two are kr 0.1177 per share apart. That gap is exactly why we show both numbers side by side.
How much is Alzinova AB worth?
The market values Alzinova AB at about 119M SEK (market capitalisation, as of Nov 10, 2026). Per share that is kr 0.3375; our models calculate a fair value of kr 0.2198 per share.
What do the bullish and bearish scenarios say about ALZ?
Our models span a range for Alzinova AB: cautious scenario kr 0.1649, base kr 0.2198, optimistic kr 0.2748 per share (as of Nov 10, 2026, price kr 0.3375). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Alzinova AB (ALZ)?
Balance-sheet figures for Alzinova AB (as of Nov 10, 2026): return on equity −16.7%, debt of 0.01 per unit of equity. They feed the Quality Score of 23/100, which measures business quality independently of the share price.
How far is ALZ from its 52-week high?
Alzinova AB trades at kr 0.3375, about 82% below its 52-week high of kr 1.92 and 2% above the low of kr 0.3305 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of kr 0.2198 is for.
Which stocks are comparable to Alzinova AB?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL 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 Alzinova AB stock attractive at the current price?
The data as of Nov 10, 2026: price kr 0.3375, calculated fair value kr 0.2198 (−35%), Quality Score 23/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Alzinova AB 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 Alzinova AB (ALZ)?
The closing price on Nov 10, 2026 was kr 0.3375. Our estimate is kr 0.2198, about 35% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alzinova AB right now?
The price sits above even our optimistic bull case (kr 0.2748). The favourable scenario is already priced in. Weak quality (23/100) 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.

Key figures of Alzinova AB

How large is the market capitalisation of Alzinova AB (ALZ)?
The market capitalisation of Alzinova AB is 119M SEK (≈ $12.0M). 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 Alzinova AB (ALZ)?
Earnings per share at Alzinova AB are kr −0.2100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Alzinova AB (ALZ)?
The return on equity (ROE) of Alzinova AB is −16.7% (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 Alzinova AB (ALZ)?
On an EBIT basis the return on assets of Alzinova AB is −13.3% (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 Alzinova AB (ALZ)?
The operating margin of Alzinova AB is −17,980% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alzinova AB (ALZ)?
Revenue at Alzinova AB is growing −56.5% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Alzinova AB (ALZ) generate?
The free cash flow of Alzinova AB is −39.6M SEK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Alzinova AB (ALZ) carry?
The net debt of Alzinova AB is 481K SEK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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