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OSE Pharma SA (OSE) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of OSE Pharma SA stock €1.34, price €1.70, that is 21.3% below the price, quality 27 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 FR · ISIN FR0012127173

OP OSE Pharma SA logo Thin data Nov 10, 2026

OSE Pharma SA

OSE · PA
Expensive, weak quality

Our calculation puts a fair price 21% below what the stock costs today.

Moderate debt
Fair value €1.34 · Overvalued
Quality 27/100
Weak Growth (revenue 5y −24.2 %/yr in EUR)
Negative free cash flow
Trails peers (1/7)
Narrow moat 10/100 · thin data
Thin data
Estimate
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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

€12.22 €1.70 Fair Value €1.34 Sep 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 €1.70 – €12.22 · fair‑value band €1.01 – €1.68 · the €1.70 price screens above the €1.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 10, 2026.

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Company profile

OSE Immunotherapeutics SA, a clinical-stage biotechnology company, develops immunotherapies in the areas of immune-oncology and immune-inflammation in France and internationally.

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Its products include Tedopi that is in Phase III clinical trial for the treatment of non-small cell lung cancer, as well as in Phase II clinical trial to pancreatic and ovarian cancer; OSE-279, which is in a Phase I/II clinical trial in patients with advanced solid tumors or lymphomas; OSE-127, a humanized monoclonal antibody that is in Phase II clinical trial for the treatment of ulcerative colitis, as well as Sjögren's Syndrome; and FR104, which is in Phase I clinical trial for the treatment of rheumatoid arthritis.

The company is also developing BI 765063, which is in Phase I clinical trial to treat solid tumors; OSE-230, an agonist antibody against ChemR23 to resolve chronic inflammation; CLEC-1, a therapeutic target in immune-oncology and identified monoclonal antibody antagonists; and BiCKI, a novel bispecific checkpoint inhibitor platform that targets PD-1 to fight primary and secondary resistance mechanisms developed by cancers.

OSE Immunotherapeutics SA has collaborations and partnerships with GERCOR, ARCAGY-GINECO, Foundation FoRT, and Nantes University Hospital; and Boehringer Ingelheim, MabSilico, CKD, Servier, Veloxis Pharmaceuticals, and Chong Kun Dang Pharmaceutical Corporation.

The company was formerly known as OSE Pharma SA and changed its name to OSE Immunotherapeutics SA in May 2016. OSE Immunotherapeutics SA was founded in 2012 and is headquartered in Nantes, France.

Stock analysis

OSE Pharma SA (OSE) currently trades at €1.70, while our estimate is €1.34, 21% 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: €1.01 (bear) to €1.68 (bull), the price of €1.70 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 27/100 (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.

OSE Pharma SA reported revenue of €2.6M in FY2025 versus €26.3M in FY2021, a compound −43.9%/yr. Reported net income was −€37.7M in FY2025.

Key figures

Market cap €43.4M Micro · P/S ratio 16.5 · EPS (TTM) €−1.69 · Return on equity −82.3% · Return on assets (EBIT) −16.6% (5-year average) · Operating margin −2,272% · Revenue (TTM) €2.7M · Revenue growth (YoY) −0.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 70% below its 52-week high and at 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 −21%, OSE screens richer than that median.

Fair Value

Bear €1.01 Fair Value €1.34 Bull €1.68
Price €1.70 · Downside -21.3%
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 27/100

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

Profitability 1
How much profit the company makes from its sales and capital
Quality Growth 12
Are margins and returns getting better?
Cashflow 9
Do the profits arrive as real cash?
Financial strength 40
Debt, balance sheet and risk of trouble
Investment 97
Does it invest with discipline instead of growing at any price?
Low Volatility 29
How calm the share price moves, does not count
Price momentum 0
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 36
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
−96.3%
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.
−47.8%
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.
−24.2%
Start year 2020 (pandemic). Over 10 years: +91.1% 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.
+91.1%
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.
−182.3% (2020) → −1,615.4% (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

OSE screens overvalued: fair value 21% below the price. 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 · 849 stocks

Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 27 · Bottom 25%
Fair Value upside −21.3% · Above median
Profitability
Return on assets −48.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −0.8% · Below median
Balance sheet
Debt / equity 0.80× · Highest 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.59× · 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.
P/S (12 months) 16.11× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)5 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)60 · sector 96
DIVIDEND (yield)0 · sector 20

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

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OSE Pharma SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "OSE Pharma SA Fair Value". https://www.fairvalue-calculator.com/stock/OSE

Frequently asked questions

Is OSE Pharma SA (OSE) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €1.34 versus a price of €1.70, about 21% lower (overvalued).
What is the fair value of OSE?
Our estimate for OSE Pharma SA is €1.34 (as of Nov 10, 2026), built from audited fundamentals. The current price: €1.70.
What is the quality score of OSE?
OSE Pharma SA has a Quality Score of 27/100. 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 OSE Pharma SA (OSE)?
Our calculated price target is the estimate of €1.34 (as of Nov 10, 2026). Cautious scenario €1.01, optimistic scenario €1.68. 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 OSE Pharma SA stock forecast for 2026?
Our estimate puts fair value at €1.34, about 21% lower versus a price of €1.70 (overvalued). Cautious scenario €1.01, optimistic scenario €1.68. The calculation is refreshed regularly with new filings.
What is the revenue of OSE Pharma SA (OSE)?
OSE Pharma SA reported trailing-twelve-month revenue of about €2.7M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of OSE Pharma SA (OSE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For OSE Pharma SA it is €1.34 per share (as of Nov 10, 2026), against a price of €1.70.
Is OSE Pharma SA stock overvalued or undervalued in 2026?
As of Nov 10, 2026, OSE trades above its calculated fair value: price €1.70, fair value €1.34, a gap of about −21% (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 OSE?
No. The price is what the market pays today (€1.70); the fair value is what the company's own numbers justify (€1.34). For OSE Pharma SA the two are €0.3620 per share apart. That gap is exactly why we show both numbers side by side.
How much is OSE Pharma SA worth?
The market values OSE Pharma SA at about €43.4M (market capitalisation, as of Nov 10, 2026). Per share that is €1.70; our models calculate a fair value of €1.34 per share.
What do the bullish and bearish scenarios say about OSE?
Our models span a range for OSE Pharma SA: cautious scenario €1.01, base €1.34, optimistic €1.68 per share (as of Nov 10, 2026, price €1.70). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of OSE Pharma SA (OSE)?
Balance-sheet figures for OSE Pharma SA (as of Nov 10, 2026): return on equity −82.3%, debt of 0.80 per unit of equity. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is OSE from its 52-week high?
OSE Pharma SA trades at €1.70, about 70% below its 52-week high of €5.71 and at the low of €1.70 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €1.34 is for.
Which stocks are comparable to OSE Pharma SA?
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 OSE Pharma SA stock attractive at the current price?
The data as of Nov 10, 2026: price €1.70, calculated fair value €1.34 (−21%), Quality Score 27/100. 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. OSE Pharma SA 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 OSE Pharma SA (OSE)?
The closing price on Nov 10, 2026 was €1.70. Our estimate is €1.34, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with OSE Pharma SA right now?
Weak quality (27/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of OSE Pharma SA

How large is the market capitalisation of OSE Pharma SA (OSE)?
The market capitalisation of OSE Pharma SA is €43.4M. 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 OSE Pharma SA (OSE)?
The price-to-sales ratio of OSE Pharma SA is 16.5 (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 OSE Pharma SA (OSE)?
Earnings per share at OSE Pharma SA are €−1.69. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of OSE Pharma SA (OSE)?
The return on equity (ROE) of OSE Pharma SA is −82.3% (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 OSE Pharma SA (OSE)?
On an EBIT basis the return on assets of OSE Pharma SA is −16.6% (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 OSE Pharma SA (OSE)?
The operating margin of OSE Pharma SA is −2,272% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at OSE Pharma SA (OSE)?
Revenue at OSE Pharma SA is growing −0.8% versus a year earlier (3y avg −47.8%). 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 OSE Pharma SA (OSE)?
Earnings per share at OSE Pharma SA are growing −95.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does OSE Pharma SA (OSE) generate?
The free cash flow of OSE Pharma SA is −€34.1M (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 OSE Pharma SA (OSE) carry?
The net debt of OSE Pharma SA is €17.8M (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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