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PepGen Ltd (PEPG) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of PepGen Ltd stock $1.53, price $2.47, that is 38.1% below the price, quality 42 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare US

PL PepGen Ltd logo Thin data Nov 8, 2026

PepGen Ltd

PEPG · US
Very expensive, weak quality

Our calculation puts a fair price 38% below what the stock costs today.

Quality 42/100
Mixed vs. peers (4/7)
Insiders sold $1,739 (6M)
Fair value $1.53 · Strongly overvalued
Negative free cash flow
Narrow moat 3/100 · thin data
Thin data
⚠ Dilution
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What runs behind every stock

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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$18.55 $1.00 Fair Value $1.53 May 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

54‑month range $1.00 – $18.55 · fair‑value band $1.01 – $1.91 · the $2.47 price screens above the $1.53 fair value. As of Nov 8, 2026.

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Company profile

PepGen Inc., a clinical-stage biotechnology company, develops oligonucleotide therapeutics for the treatment of severe neuromuscular and neurologic diseases in the United States.

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The company engages in the development of PGN-EDODM1, an EDO peptide-conjugated PMO, which is in Phase 2 clinical trial for the treatment of myotonic dystrophy type 1; and FREEDOM2-DM1, which is in Phase 2 for the treatment of myotonic dystrophy type 1. It is also involved in FREEDOM-OLE, an open label expansion study.

The company was founded in 2018 and is based in Boston, Massachusetts.

Stock analysis

PepGen Ltd (PEPG) currently trades at $2.47, while our model-based Fair Value estimate is $1.53, 38% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $1.01 (bear) to $1.91 (bull), the price of $2.47 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 42/100 (below-average quality), in the Healthcare sector.

PepGen Ltd reported revenue of $0 in FY2025 versus $0 in FY2021. Reported net income was −$89.7M in FY2025.

Key figures

Market cap $171M Micro · EPS (TTM) $−0.9400 · Return on equity −75.5% · Return on assets (EBIT) −45.6% (5-year average) · Free cash flow −$81.9M · Net cash $43.5M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 3 out of 100 (low confidence).

What moves the price

The share trades about 66% below its 52-week high and 83% 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 −38%, PEPG screens richer than that median.

Fair Value models

Bear $1.01 Fair Value $1.53 Bull $1.91
Price $2.47 · Downside -38.1%
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.
Best data coverage
NCAV (Graham) $1.19 $1.80 $2.25 52
All 1 models by family
Asset-Based
NCAV (Graham) $1.19 $1.80 $2.25 52

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 42/100

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

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 75
Are margins and returns getting better?
Cashflow 27
Do the profits arrive as real cash?
Financial strength 75
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 39
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 10
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, one officer or director sold shares worth $1,739 and none bought.

  • SaleKasra KasraianChief Technical Officer1,233 shares at $1.41$1,739May 21, 202610b5-1 plan
  • SaleJames G McArthurPresident and CEO, Director5,275 shares at $6.23$32,876Mar 4, 202610b5-1 plan
  • SaleNoel DonnellyChief Financial Officer2,084 shares at $6.23$12,989Mar 4, 202610b5-1 plan
  • SalePaul StreckEVP, Head of R&D1,879 shares at $6.23$11,709Mar 4, 202610b5-1 plan

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗

Revenue & earnings trend

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

PEPG screens overvalued: fair value 38% 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 · 558 stocks

Beats the industry median on 4/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 42 · Below median
Fair Value upside −38.1% · Above median
Profitability
Return on assets −51.6% · Bottom 25%
Operating margin (12 months) 0.0% · Above median
Growth and dividend
Revenue growth (quarter YoY) 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.16× · Cheaper than median

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
Incyte Corporation INCY $119.65 $199.23 +67% vs PEPG
Regeneron Pharmaceuticals, Inc REGN $904.35 $1,275 +41% vs PEPG
Vertex Pharmaceuticals Incorporated VRTX $547.09 $601.80 +10% vs PEPG
Samsung Biologics Co 207940 1,516,000 KRW 1,667,600 KRW +10% vs PEPG
Genmab A/S GMAB kr 3,527 kr 3,880 +10% vs PEPG
WuXi Biologics (Cayman) Inc 2269 HK$47.62 HK$52.38 +10% vs PEPG
argenx SE ARGX $927.21 $908.40 −2% vs PEPG
CSL Limited CSL A$200.77 A$183.04 −9% vs PEPG
Celltrion, Inc 068270 211,000 KRW 74,945 KRW −64% vs PEPG
Royalty Pharma plc RPRX $67.30 $19.01 −72% vs PEPG

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PepGen Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "PepGen Ltd Fair Value". https://www.fairvalue-calculator.com/stock/PEPG

Frequently asked questions

Is PepGen Ltd (PEPG) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $1.53 versus a price of $2.47, about 38% lower (overvalued).
What is the fair value of PEPG?
Our model-based fair value for PepGen Ltd is $1.53 (as of Nov 8, 2026), built from audited fundamentals. The current price: $2.47.
What is the quality score of PEPG?
PepGen Ltd has a Quality Score of 42/100. 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 PepGen Ltd (PEPG)?
Our model-based price target is the fair value of $1.53 (as of Nov 8, 2026) from 1 valuation models. Cautious scenario $1.01, optimistic scenario $1.91. It is a calculation from audited fundamentals, not an analyst target.
What is the PepGen Ltd stock forecast for 2026?
Our models put fair value at $1.53, about 38% lower versus a price of $2.47 (overvalued). Cautious scenario $1.01, optimistic scenario $1.91. The calculation is refreshed regularly with new filings.
What is the intrinsic value of PepGen Ltd (PEPG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PepGen Ltd it is $1.53 per share (as of Nov 8, 2026), against a price of $2.47. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is PepGen Ltd stock overvalued or undervalued in 2026?
As of Nov 8, 2026, PEPG trades above its calculated fair value: price $2.47, fair value $1.53, a gap of about −38% (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 PEPG?
No. The price is what the market pays today ($2.47); the fair value is what the company's own numbers justify ($1.53). For PepGen Ltd the two are $0.9400 per share apart. That gap is exactly why we show both numbers side by side.
How much is PepGen Ltd worth?
The market values PepGen Ltd at about $171M (market capitalisation, as of Nov 8, 2026). Per share that is $2.47; our models calculate a fair value of $1.53 per share.
What do the bullish and bearish scenarios say about PEPG?
Our models span a range for PepGen Ltd: cautious scenario $1.01, base $1.53, optimistic $1.91 per share (as of Nov 8, 2026, price $2.47). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PepGen Ltd (PEPG)?
Balance-sheet figures for PepGen Ltd (as of Nov 8, 2026): return on equity −75.5%. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is PEPG from its 52-week high?
PepGen Ltd trades at $2.47, about 66% below its 52-week high of $7.17 and 83% above the low of $1.35 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $1.53 is for.
Which stocks are comparable to PepGen Ltd?
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 PepGen Ltd stock attractive at the current price?
The data as of Nov 8, 2026: price $2.47, calculated fair value $1.53 (−38%), Quality Score 42/100, from 1 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 PEPG calculated?
We run PepGen Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $1.53 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 13.3% above its aggregate fair value. PepGen Ltd 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 PepGen Ltd (PEPG)?
The closing price on Nov 6, 2026 was $2.47. Our model-based fair value is $1.53, about 38% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PepGen Ltd right now?
The price sits above even our optimistic bull case ($1.91). The favourable scenario is already priced in. Weak quality (42/100) 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. A fairly wide model range ($1.01 to $1.91) leaves room in how you read the outcome.

Key figures of PepGen Ltd

How large is the market capitalisation of PepGen Ltd (PEPG)?
The market capitalisation of PepGen Ltd is $171M. 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 PepGen Ltd (PEPG)?
Earnings per share at PepGen Ltd are $−0.9400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of PepGen Ltd (PEPG)?
The return on equity (ROE) of PepGen Ltd is −75.5% (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 PepGen Ltd (PEPG)?
On an EBIT basis the return on assets of PepGen Ltd is −45.6% (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.
How much free cash flow does PepGen Ltd (PEPG) generate?
The free cash flow of PepGen Ltd is −$81.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does PepGen Ltd (PEPG) hold?
PepGen Ltd holds more cash than debt, $43.5M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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