Photocure ASA (PHO) Fair Value & Analysis
Healthcare · NO · Market cap 1.6B NOK
Fair value as of: Jun 24, 2026
Analysis
Photocure ASA (PHO) currently trades at kr 60.50, while our model-based Fair Value estimate is kr 23.58 — implying the stock looks roughly 61.0% overvalued today. We read business quality at 95/100 (high quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).
About the company
Photocure ASA, together with its subsidiaries, engages in the research, development, production, distribution, marketing, and sale of pharmaceutical products. It operates through two segments, Commercial Franchise and Development Portfolio. The company offers Hexvix/Cysview for the detection and management of bladder cancer. It is also developing Cevira, a photodynamic drug-device combination product candidate for the non-surgical treatment of high-grade cervical dysplasia. The company has a license agreement with Asieris MediTech Co to develop and commercialize Cevira; and a strategic agreement with Richard Wolf GmbH to develop and commercialize a 4K LED high-definition reusable blue light cystoscope based on Richard Wolf's System blue technology. It sells its products to pharmaceutical wholesalers, pharmacies, and hospitals through license partners. The company operates in the Nordic countries, Germany, France, Austria, the United Kingdom, the Benelux, Italy, other European countr…
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.