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Hansa Biopharma AB (HNSA) fair value: what the stock is really worth

We calculate from audited financials what Hansa Biopharma AB is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · SE · ISIN SE0002148817

HB Hansa Biopharma AB logo Thin data Jun 23, 2026

Hansa Biopharma AB

HNSA · ST

Weakest SetupStrongly overvalued and low quality.

!Fair value kr 6.63 · Strongly overvalued (−82%)
!Quality 43/100
!Expensive Growth (revenue 5y +105.3 %/yr)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (2/6)
!Moderate moat 56/100
!Insider activity 40/100
!Evidence only low, so the estimate is less certain
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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

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Price vs Fair Value

kr 155.00 kr 21.00 Fair Value kr 6.63 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jun 23, 2026.

How to read this chart

60‑month range kr 21.00 – kr 155.00 · fair‑value band kr 4.97 – kr 8.29 · the kr 37.82 price screens above the kr 6.63 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jun 23, 2026.

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Company profile

Hansa Biopharma AB (publ), a biopharmaceutical company, engages in development and commercialization of treatments for patients with rare immunological conditions in Sweden, North America, and rest of Europe.

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Hansa Biopharma AB (publ), a biopharmaceutical company, engages in development and commercialization of treatments for patients with rare immunological conditions in Sweden, North America, and rest of Europe. The company offers Idefirix(imlifidase), which targets and cleaves all classes of immunoglobulin G (IgG) antibodies for the desensitization treatment of sensitized adult kidney transplant patients with a positive crossmatch test. It also develops HNSA-5487, a next generation IgG-cleaving enzyme to address acute and chronic neuro-autoimmune conditions, including myasthenia gravis. In addition, the company evaluates imlifidase in three therapy areas, including autoimmune, gene therapy, and transplantation. It has a collaboration agreement with Sarepta Therapeutics to assess imlifidase as a pre-treatment in limb-girdle muscular dystrophy (LGMD) and duchenne muscular dystrophy (DMD) and research and development collaboration agreement with Genethon to evaluate the safety and efficacy of imlifidase as pre-treatment to gene therapy in Crigler-Najjar syndrome patients with anti-AAV antibodies. Hansa Biopharma AB (publ) was formerly known as Hansa Medical AB (publ) and changed its name to Hansa Biopharma AB (publ) in December 2018. Hansa Biopharma AB (publ) was incorporated in 2007 and is headquartered in Lund, Sweden.

Stock analysis

Hansa Biopharma AB (HNSA) currently trades at kr 37.82, while our model-based Fair Value estimate is kr 6.63, implying the stock looks roughly 470.5% overvalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 94/100, which puts the evidence level at low.

Scenario range: kr 4.97 (bear) to kr 8.29 (bull), the price of kr 37.82 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 43/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Hansa Biopharma AB reported revenue of 222M SEK in FY2025 versus 33.9M SEK in FY2021, a compound +60.0%/yr. Reported net income was −529M SEK in FY2025.

Key figures

Market cap 3.1B SEK (≈ $314M) · P/S ratio 16.1 · EPS (TTM) kr −7.94 · Return on equity −4,177% · Return on assets (EBIT) −57.8% · Operating margin −411% · Revenue (TTM) 190M SEK · Revenue growth (YoY) −47.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 12% below its 52-week high and 62% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −82%, HNSA screens richer than that median.

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Quality Score breakdown

Overall quality 43/100

Of which business quality 38 · Market factors (momentum, volatility) 53

Profitability 6
Margins and returns on capital today
Quality Growth 88
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 8
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+29.7%
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.
+12.9%
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.
+105.3%
Revenue growth 17 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.
+57.0%
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.
−6,970.8% (2020) → −234.3% (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

HNSA screens 470% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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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 · 648 stocks

Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside −83% · Bottom 25%
Profitability
Return on assets −38% · Bottom 25%
Net margin (TTM) 0% · Below median
Growth and dividend
Revenue growth −48% · Bottom 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/S (TTM) 1.77× · Cheaper than median

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 97
DIVIDEND (yield)0 · sector 24

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

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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
Vertex Pharmaceuticals Incorporated VRTX $515.44 $566.98 +10%
Regeneron Pharmaceuticals, Inc REGN $781.49 $1,241 +59%
argenx SE ARGX $984.39 $917.18 −7%
BeOne Medicines AG 688235 ¥247.30 ¥124.62 −50%
Samsung Biologics Co 207940 1,415,000 KRW 1,556,500 KRW +10%
CSL Limited CSL A$167.10 A$183.81 +10%
Alnylam Pharmaceuticals, Inc ALNY $248.68 $211.88 −15%
Royalty Pharma plc RPRX $58.61 $24.22 −59%
Celltrion, Inc 068270 178,200 KRW 74,519 KRW −58%
BioNTech SE BNTX $96.73 $63.31 −35%

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Hansa Biopharma AB · Fair Value
kr 6.63 −470%Fair Value
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Cite: Fair Value Calculator (2026). "Hansa Biopharma AB Fair Value". https://www.fairvalue-calculator.com/stock/HNSA

Frequently asked questions

Is Hansa Biopharma AB (HNSA) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of kr 6.63 versus a price of kr 37.82, about −82% upside (overvalued).
What is the fair value of HNSA?
Our model-based fair value for Hansa Biopharma AB is kr 6.63 (as of Jun 23, 2026), built from audited fundamentals. The current price: kr 37.82.
What is the quality score of HNSA?
Hansa Biopharma AB has a Quality Score of 43/100. 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 Hansa Biopharma AB (HNSA)?
Our model-based price target is the fair value of kr 6.63 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario kr 4.97, optimistic scenario kr 8.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Hansa Biopharma AB stock forecast for 2026?
Our models put fair value at kr 6.63, about −82% upside versus a price of kr 37.82 (overvalued). Cautious scenario kr 4.97, optimistic scenario kr 8.29. The calculation is refreshed regularly with new filings.
What is the revenue of Hansa Biopharma AB (HNSA)?
Hansa Biopharma AB reported trailing-twelve-month revenue of about 190M SEK (latest available figure, as of Jun 23, 2026).
What is the intrinsic value of Hansa Biopharma AB (HNSA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hansa Biopharma AB it is kr 6.63 per share (as of Jun 23, 2026), against a price of kr 37.82. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Hansa Biopharma AB stock overvalued or undervalued in 2026?
As of Jun 23, 2026, HNSA trades above its calculated fair value: price kr 37.82, fair value kr 6.63, a gap of about −82% (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 HNSA?
No. The price is what the market pays today (kr 37.82); the fair value is what the company's own numbers justify (kr 6.63). For Hansa Biopharma AB the two are kr 31.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hansa Biopharma AB worth?
The market values Hansa Biopharma AB at about 3.1B SEK (market capitalisation, as of Jun 23, 2026). Per share that is kr 37.82; our models calculate a fair value of kr 6.63 per share.
What do the bullish and bearish scenarios say about HNSA?
Our models span a range for Hansa Biopharma AB: cautious scenario kr 4.97, base kr 6.63, optimistic kr 8.29 per share (as of Jun 23, 2026, price kr 37.82). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is HNSA from its 52-week high?
Hansa Biopharma AB trades at kr 37.82, about 12% below its 52-week high of kr 42.98 and 62% above the low of kr 23.30 (as of Jun 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 6.63 is for.
Which stocks are comparable to Hansa Biopharma AB?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, BeOne Medicines AG, 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 Hansa Biopharma AB stock attractive at the current price?
The data as of Jun 23, 2026: price kr 37.82, calculated fair value kr 6.63 (−82%), Quality Score 43/100, from 3 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 HNSA calculated?
We run Hansa Biopharma AB through 3 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 6.63, 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 15.6 % above its aggregate fair value. Hansa Biopharma 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 Hansa Biopharma AB (HNSA)?
The closing price on Sep 15, 2026 was kr 37.82. Our model-based fair value is kr 6.63, about −82% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hansa Biopharma AB right now?
The price sits above even our optimistic bull case (kr 8.29). The favourable scenario is already priced in. Weak quality (43/100) 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 Hansa Biopharma AB

How large is the market capitalisation of Hansa Biopharma AB (HNSA)?
The market capitalisation of Hansa Biopharma AB is 3.1B SEK (≈ $314M). 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 Hansa Biopharma AB (HNSA)?
The price-to-sales ratio of Hansa Biopharma AB is 16.1 (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 Hansa Biopharma AB (HNSA)?
Earnings per share at Hansa Biopharma AB are kr −7.94. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Hansa Biopharma AB (HNSA)?
The return on equity (ROE) of Hansa Biopharma AB is −4,177% (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 Hansa Biopharma AB (HNSA)?
On an EBIT basis the return on assets of Hansa Biopharma AB is −57.8% (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 Hansa Biopharma AB (HNSA)?
The operating margin of Hansa Biopharma AB is −411% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hansa Biopharma AB (HNSA)?
Revenue at Hansa Biopharma AB is growing −47.9% versus a year earlier (3y avg +12.9%). 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 Hansa Biopharma AB (HNSA) generate?
The free cash flow of Hansa Biopharma AB is −549M 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 Hansa Biopharma AB (HNSA) carry?
The net debt of Hansa Biopharma AB is 233M 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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