BioArctic AB (publ) (BIOA-B) fair value: what the stock is really worth
As of Oct 20, 2026: fair value (intrinsic value) of BioArctic AB (publ) stock SEK 496, price SEK 300, upside +65.2%, quality 73 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 13, 2026.
How to read this chart
60‑month range kr 66.65 – kr 375.57 · fair‑value band kr 270.97 – kr 830.54 · the kr 300.00 price screens below the kr 495.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 4 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 13, 2026.
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BioArctic AB (publ) develops biological drugs for patients with central nervous system disorders in Sweden. It engages in the research and development of biological drugs, such as antibodies that address high unmet medical needs.
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The company's therapeutic areas encompass neurodegenerative disorders, such as Alzheimer's disease, Parkinson's disease, and other ALS diseases. In addition, it offers Lecanemab for intravenous treatment.
Further, it is developing Lecanemab for Subcutaneous treatment, which is in registration stage; lecanemab, which is in phase 3 clinical trials for presymptomatic treatment; Exidavnemab, which is in phase 2 clinical trials; Lecanemab back-up, BAN2803, ND3014, and BAN2802 that are in preclinical trials; and ND-BT8825, HD-BT4801, GD-BT6822, ND-BT3814, PD-BT2238 which are in research stage.
The company was formerly known as BioArctic Neuroscience AB and changed its name to BioArctic AB (publ) in 2016. BioArctic AB (publ) was incorporated in 2000 and is based in Stockholm, Sweden.
Stock analysis
BioArctic AB (publ) (BIOA-B) currently trades at kr 300.00, while our model-based Fair Value estimate is kr 495.73, implying the stock looks roughly 39.5% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 638.88 per share, and 13 of the 22 models we run sit above the kr 300.00 price.
Bear case: the Multiples group reads lowest at kr 119.07, and 9 of the 22 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 270.97 (bear) to kr 830.54 (bull), the price of kr 300.00 sits inside 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 73/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
BioArctic AB (publ) reported revenue of 2.0B SEK in FY2025 versus 23.1M SEK in FY2021, a compound +204.9%/yr. Reported net income was 1.0B SEK in FY2025.
Key figures
Market cap 26.7B SEK (≈ $2.7B) Mid · P/E ratio 266.2 · P/S ratio 25.6 · EPS (TTM) kr 1.16 · Dividend yield 0.7% · Net margin 10.5% · Return on equity 5.2% · Return on assets (EBIT) 7.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 58 out of 100 (medium confidence).
What moves the price
The share trades about 17% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at 65%, BIOA-B screens cheaper than that median.
Fair Value models
Bearkr 270.97Fair Value kr 495.73Bullkr 830.54
Price kr 300.00 · Upside +65.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+676.8%
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.
+106.1%
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.
+100.1%
Start year 2020 (pandemic). Over 10 years: +47.3% a year
Revenue growth 10 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.
+47.3%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+63.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+62.9%
Dividend (yield on the price)0.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.62.9% vs 41.9%, picking up
Profit margin 2020 to 2025 ⓘ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.−132% → 68%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+6.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Sweden: IMF forecast 2.0% a year to 2030, 2.9% from 2016 to 2025) that is about +4.1% a year for the price and +7.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
BioArctic's royalties from Leqembi depend on Eisai's global rollout and reimbursement wins, yet the company has also secured major partnerships that license its BrainTransporter technology to others. These deals could create diversified revenue streams beyond one drug, but only if the platform delivers results in new indications. Our models currently see the shares as undervalued. Will the technology partnerships add more upside than Leqembi execution alone?
Price, fair value, quality and upside side by side.
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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 · 603 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside+71.5% · Top 25%
Profitability
Return on equity (12 months)5.2% · Top 25%
Return on assets39.7% · Top 25%
Net margin (12 months)10.5% · Above median
Operating margin (12 months)−5.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)−36.9% · Bottom 25%
Dividend yield (12 months)0.7% · Below median
Valuation Multiplesvs Biotechnology median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "BioArctic AB (publ) Fair Value". https://www.fairvalue-calculator.com/stock/BIOA-B
Frequently asked questions
Is BioArctic AB (publ) (BIOA-B) overvalued or undervalued?
As of Oct 13, 2026, our model estimates a fair value of kr 495.73 versus a price of kr 300.00, about +65% upside (undervalued).
What is the fair value of BIOA-B?
Our model-based fair value for BioArctic AB (publ) is kr 495.73 (as of Oct 13, 2026), built from audited fundamentals. The current price: kr 300.00.
What is the quality score of BIOA-B?
BioArctic AB (publ) has a Quality Score of 73/100. 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 BioArctic AB (publ) (BIOA-B)?
Our model-based price target is the fair value of kr 495.73 (as of Oct 13, 2026) from 22 valuation models. Cautious scenario kr 270.97, optimistic scenario kr 830.54. It is a calculation from audited fundamentals, not an analyst target.
What is the BioArctic AB (publ) stock forecast for 2026?
Our models put fair value at kr 495.73, about +65% upside versus a price of kr 300.00 (undervalued). Cautious scenario kr 270.97, optimistic scenario kr 830.54. The calculation is refreshed regularly with new filings.
What is the revenue of BioArctic AB (publ) (BIOA-B)?
BioArctic AB (publ) reported trailing-twelve-month revenue of about 1.0B SEK (latest available figure, as of Oct 13, 2026).
Does BioArctic AB (publ) pay a dividend?
BioArctic AB (publ) currently shows a dividend yield of 0.67% relative to its recent price (as of Oct 13, 2026).
What growth is priced into BioArctic AB (publ) (BIOA-B)?
For today's price to be fair in a discounted-cash-flow model, BioArctic AB (publ) would have to grow free cash flow by +6.1 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +100.1 % per year. As of Oct 13, 2026.
What discount rate (WACC) does the fair value of BIOA-B use?
Our models discount BioArctic AB (publ) at 9.5 %: a base by market capitalisation (mid), country premium for Sweden. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For BioArctic AB (publ) that is +6.1 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has BioArctic AB (publ) (BIOA-B) delivered so far?
Over the past 5 years revenue at BioArctic AB (publ) grew +100.1 % a year. The price currently implies +6.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of BioArctic AB (publ) (BIOA-B) growing?
The median revenue growth in the sector is +5.6 % a year. That is the yardstick for the growth priced into BioArctic AB (publ) (+6.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of BioArctic AB (publ) (BIOA-B)?
The free-cash-flow yield on the price is 5.37 %: that much free cash flow BioArctic AB (publ) produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of BioArctic AB (publ) (BIOA-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For BioArctic AB (publ) it is kr 495.73 per share (as of Oct 13, 2026), against a price of kr 300.00. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is BioArctic AB (publ) stock overvalued or undervalued in 2026?
As of Oct 13, 2026, BIOA-B trades below its calculated fair value: price kr 300.00, fair value kr 495.73, a gap of about +65% (undervalued). 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 BIOA-B?
No. The price is what the market pays today (kr 300.00); the fair value is what the company's own numbers justify (kr 495.73). For BioArctic AB (publ) the two are kr 195.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is BioArctic AB (publ) worth?
The market values BioArctic AB (publ) at about 26.7B SEK (market capitalisation, as of Oct 13, 2026). Per share that is kr 300.00; our models calculate a fair value of kr 495.73 per share.
What do the bullish and bearish scenarios say about BIOA-B?
Our models span a range for BioArctic AB (publ): cautious scenario kr 270.97, base kr 495.73, optimistic kr 830.54 per share (as of Oct 13, 2026, price kr 300.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BIOA-B?
BioArctic AB (publ) trades at a price-to-earnings ratio of 266.2 (as of Oct 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 495.73 is built from several models across several years. Other multiples: P/B 13.1, P/S 25.6, EV/EBITDA 18.9.
How solid is the balance sheet of BioArctic AB (publ) (BIOA-B)?
Balance-sheet figures for BioArctic AB (publ) (as of Oct 13, 2026): return on equity 5.2%. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is BIOA-B from its 52-week high?
BioArctic AB (publ) trades at kr 300.00, about 17% below its 52-week high of kr 362.25 and 14% above the low of kr 262.05 (as of Oct 20, 2026). Distance from the high says nothing about value: that is what the fair value of kr 495.73 is for.
Which stocks are comparable to BioArctic AB (publ)?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, 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 BioArctic AB (publ) stock attractive at the current price?
The data as of Oct 13, 2026: price kr 300.00, calculated fair value kr 495.73 (+65%), Quality Score 73/100, from 22 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 BIOA-B calculated?
We run BioArctic AB (publ) through 22 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 kr 495.73, 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 13.9 % above its aggregate fair value. BioArctic AB (publ) currently trades 39 % below its own fair value, and the market average says nothing about that. 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 BioArctic AB (publ) (BIOA-B)?
The closing price on Oct 20, 2026 was kr 300.00. Our model-based fair value is kr 495.73, about +65% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with BioArctic AB (publ) right now?
The rarer combination: high quality (73/100) AND below fair value. That earns a closer look rather than a quick verdict. The model range is unusually wide (kr 270.97 to kr 830.54). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Where does the earnings growth of BioArctic AB (publ) (BIOA-B) come from?
Earnings per share at BioArctic AB (publ) grew +42.5 % a year from 2015 to 2025. Broken into its drivers: revenue per share +40.2 %, EBIT margin +1.6 %, tax rate +0.6 %, residual (interest, one-offs) −0.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of BioArctic AB (publ)
How large is the market capitalisation of BioArctic AB (publ) (BIOA-B)?
The market capitalisation of BioArctic AB (publ) is 26.7B SEK (≈ $2.7B). 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 is the P/S ratio of BioArctic AB (publ) (BIOA-B)?
The price-to-sales ratio of BioArctic AB (publ) is 25.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of BioArctic AB (publ) (BIOA-B)?
Earnings per share at BioArctic AB (publ) are kr 1.16 (price ÷ EPS = P/E 266.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of BioArctic AB (publ) (BIOA-B)?
The dividend yield of BioArctic AB (publ) is 0.7% (payout 172%). 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 net margin of BioArctic AB (publ) (BIOA-B)?
The net margin of BioArctic AB (publ) is 10.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of BioArctic AB (publ) (BIOA-B)?
The return on equity (ROE) of BioArctic AB (publ) is 5.2% (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 BioArctic AB (publ) (BIOA-B)?
On an EBIT basis the return on assets of BioArctic AB (publ) is 7.4% (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 BioArctic AB (publ) (BIOA-B)?
The operating margin of BioArctic AB (publ) is −5.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at BioArctic AB (publ) (BIOA-B)?
Revenue at BioArctic AB (publ) is growing −36.9% versus a year earlier (3y avg +106%). 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 BioArctic AB (publ) (BIOA-B)?
Earnings per share at BioArctic AB (publ) are growing −79.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does BioArctic AB (publ) (BIOA-B) hold?
BioArctic AB (publ) holds more cash than debt, 968M SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Oct 13, 2026