Camurus AB (CAMX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Camurus AB stock SEK 804, price SEK 731, upside +10.0%, quality 76 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 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. As of Nov 8, 2026.
How to read this chart
60‑month range kr 121.60 – kr 733.50 · fair‑value band kr 489.02 – kr 1,395 · the kr 731.00 price screens below the kr 804.10 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Camurus AB (publ), a biopharmaceutical company, develops and commercializes medicines for severe and chronic diseases in Europe, Africa, the Middle East, North America, and Asia.
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The company offers Buvidal, a buprenorphine injection for the treatment of opioid dependence and chronic pain; and Brixadi to treat opioid use disorder.
It also provides CAM2038 for the treatment of chronic pain; CAM2029, which completed phase III clinical trials for the treatment of acromegaly, and is under phase III clinical trials to treat gastroenteropancreatic neuroendocrine tumors, as well as in phase II clinical trial to treat polycystic liver diseases; and CAM2043 for the treatment of pulmonary arterial hypertension, as well as in phase II clinical trial to treat Raynaud's phenomenon.
In addition, the company is developing CAM2032, which is in phase II clinical trials for the treatment of prostate cancer; CAM4072 that is in phase III clinical trials for the treatment of genetic obesity disorders; CAM2056 that is in phase I clinical trials for the treatment of metabolic diseases; CAM4071, which is in phase I clinical trials for the treatment of endocrine disorder; and CAM2047 that is in phase 1 clinical trial for the treatment of chemotherapy-induced nausea and vomiting.
It has strategic partnerships with Braeburn Pharmaceuticals to develop CAM2038 for the treatment of opioid use disorder; Rhythm Pharmaceuticals Inc. to develop CAM4072 for the treatment of a range of rare genetic disorders of obesity; Gubra A/S to develop long-acting therapeutic option for the treatment of hypoparathyroidism; NewBridge Pharmaceuticals; and Eli Lilly for the development of long-acting incretin medicines based on FluidCrystal technology.
Camurus AB (publ) was founded in 1991 and is headquartered in Lund, Sweden.
Stock analysis
Camurus AB (CAMX) currently trades at kr 731.00, while our model-based Fair Value estimate is kr 804.10, so the stock looks roughly fairly valued today (gap 9.1%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 574.27 per share, and 0 of the 24 models we run sit above the kr 731.00 price.
Bear case: the Economic Profit group reads lowest at kr 177.40, and 24 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 489.02 (bear) to kr 1,395 (bull), the price of kr 731.00 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 76/100 (high quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Camurus AB reported revenue of 2.3B SEK in FY2025 versus 601M SEK in FY2021, a compound +39.4%/yr. Reported net income was 736M SEK in FY2025.
Key figures
Market cap 43.5B SEK (≈ $4.4B) Mid · P/E ratio 57.8 · P/S ratio 19.2 · EPS (TTM) kr 12.65 · Net margin 29.9% · Return on equity 15.9% · Return on assets (EBIT) 10.8% (5-year average) · Operating margin 41.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 83 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 67% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at 10%, CAMX screens cheaper than that median.
Fair Value models
Bearkr 489.02Fair Value kr 804.10Bullkr 1,395
Price kr 731.00 · Upside +10.0%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 10.81 per share) are deliberately not added.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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+21.3%
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.
+33.3%
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.
+46.5%
Start year 2020 (pandemic). Over 10 years: +30.8% a year
Revenue growth 13 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.
+27.6%
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What shareholders gained per year (last 3 years) (mathematically smoothed) ⓘ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 3 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+97.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+97.8%
Dividend (yield on the price)0.0%
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.−62% → 39%
2025 sits 70% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what 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).
+24.1%
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.
+25.3%
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 +21.6% a year for the price and +22.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (70 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.Positive
Recent news coverage is more positive than average.
AI conclusion: Camurus demonstrates strength through record Buvidal sales in opioid dependence yet its main weak point remains insufficient public signals and manufacturing hurdles that limit durable moat assessment.
Main risk: Manufacturing hurdles delaying CAM2029 in the US represent the biggest risk to the company's pipeline expansion and would hit future revenue diversification beyond the Buvidal franchise.
Camurus keeps posting record product sales on renewed Buvidal growth in opioid dependence. A competitor's planned exit from Europe and Australia could add further momentum to that franchise. Will the core business tailwinds prove more lasting than the manufacturing hurdles that have delayed CAM2029 in the US?
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 · 558 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score76 · Top 25%
Fair Value upside+10.0% · Top 25%
Profitability
Return on equity (12 months)15.9% · Top 25%
Return on assets15.5% · Top 25%
Net margin (12 months)29.9% · Top 25%
Operating margin (12 months)41.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)3.9% · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/E (12 months)57.8× · Priciest 25%
P/B10.27× · Priciest 25%
P/S (12 months)19.20× · Priciest 25%
Price / free cash flow (fiscal year)59.6× · Pricier than median
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). "Camurus AB Fair Value". https://www.fairvalue-calculator.com/stock/CAMX
Frequently asked questions
Is Camurus AB (CAMX) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of kr 804.10 versus a price of kr 731.00, about +10% upside (fairly valued).
What is the fair value of CAMX?
Our model-based fair value for Camurus AB is kr 804.10 (as of Nov 8, 2026), built from audited fundamentals. The current price: kr 731.00.
What is the quality score of CAMX?
Camurus AB has a Quality Score of 76/100. 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 Camurus AB (CAMX)?
Our model-based price target is the fair value of kr 804.10 (as of Nov 8, 2026) from 24 valuation models. Cautious scenario kr 489.02, optimistic scenario kr 1,395. It is a calculation from audited fundamentals, not an analyst target.
What is the Camurus AB stock forecast for 2026?
Our models put fair value at kr 804.10, about +10% upside versus a price of kr 731.00 (fairly valued). Cautious scenario kr 489.02, optimistic scenario kr 1,395. The calculation is refreshed regularly with new filings.
What is the revenue of Camurus AB (CAMX)?
Camurus AB reported trailing-twelve-month revenue of about 2.3B SEK (latest available figure, as of Nov 8, 2026).
What growth is priced into Camurus AB (CAMX)?
For today's price to be fair in a discounted-cash-flow model, Camurus AB would have to grow free cash flow by +24.1 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +46.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of CAMX use?
Our models discount Camurus AB at 8.3 %: a base by market capitalisation (mid), damped by beta 0.42, 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 Camurus AB that is +24.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has Camurus AB (CAMX) delivered so far?
Over the past 5 years revenue at Camurus AB grew +46.5 % a year. The price currently implies free-cash-flow growth of +24.1 % per 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 Camurus AB (CAMX) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Camurus AB (+24.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Camurus AB (CAMX)?
The free-cash-flow yield on the price is 1.68 %: that much free cash flow Camurus AB produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Camurus AB (CAMX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Camurus AB it is kr 804.10 per share (as of Nov 8, 2026), against a price of kr 731.00. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Camurus AB stock overvalued or undervalued in 2026?
As of Nov 8, 2026, CAMX trades below its calculated fair value: price kr 731.00, fair value kr 804.10, a gap of about +10% (fairly valued). 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 CAMX?
No. The price is what the market pays today (kr 731.00); the fair value is what the company's own numbers justify (kr 804.10). For Camurus AB the two are kr 73.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is Camurus AB worth?
The market values Camurus AB at about 43.5B SEK (market capitalisation, as of Nov 8, 2026). Per share that is kr 731.00; our models calculate a fair value of kr 804.10 per share.
What do the bullish and bearish scenarios say about CAMX?
Our models span a range for Camurus AB: cautious scenario kr 489.02, base kr 804.10, optimistic kr 1,395 per share (as of Nov 8, 2026, price kr 731.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CAMX?
Camurus AB trades at a price-to-earnings ratio of 57.8 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 804.10 is built from several models across several years. Other multiples: P/B 10.3, P/S 19.2, EV/EBITDA 48.4.
How solid is the balance sheet of Camurus AB (CAMX)?
Balance-sheet figures for Camurus AB (as of Nov 8, 2026): return on equity 15.9%. They feed the Quality Score of 76/100, which measures business quality independently of the share price.
How far is CAMX from its 52-week high?
Camurus AB trades at kr 731.00, at its 52-week high of kr 731.00 and 67% above the low of kr 437.40 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 804.10 is for.
Which stocks are comparable to Camurus AB?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, 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 Camurus AB stock attractive at the current price?
The data as of Nov 8, 2026: price kr 731.00, calculated fair value kr 804.10 (+10%), Quality Score 76/100, from 24 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 CAMX calculated?
We run Camurus AB through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 804.10 builds on their evidence-weighted average, 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. Camurus AB currently trades 9% 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 Camurus AB (CAMX)?
The closing price on Nov 6, 2026 was kr 731.00. Our model-based fair value is kr 804.10, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Camurus AB right now?
The model range is unusually wide (kr 489.02 to kr 1,395). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Key figures of Camurus AB
How large is the market capitalisation of Camurus AB (CAMX)?
The market capitalisation of Camurus AB is 43.5B SEK (≈ $4.4B). 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 Camurus AB (CAMX)?
The price-to-sales ratio of Camurus AB is 19.2 (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 Camurus AB (CAMX)?
Earnings per share at Camurus AB are kr 12.65 (price ÷ EPS = P/E 57.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Camurus AB (CAMX)?
The net margin of Camurus AB is 29.9% (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 Camurus AB (CAMX)?
The return on equity (ROE) of Camurus AB is 15.9% (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 Camurus AB (CAMX)?
On an EBIT basis the return on assets of Camurus AB is 10.8% (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 Camurus AB (CAMX)?
The operating margin of Camurus AB is 41.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Camurus AB (CAMX)?
Revenue at Camurus AB is growing +3.9% versus a year earlier (3y avg +33.3%). 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 Camurus AB (CAMX)?
Earnings per share at Camurus AB are growing −1.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Camurus AB (CAMX) hold?
Camurus AB holds more cash than debt, 3.6B SEK net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 8, 2026