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PYC Therapeutics Ltd (PYC) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of PYC Therapeutics Ltd stock A$0.40, price A$1.99, that is 79.9% below the price, quality 34 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 AU · ISIN AU000000PYC7

PT PYC Therapeutics Ltd logo Thin data Nov 9, 2026

PYC Therapeutics Ltd

PYC · AU
Very expensive, weak quality

Our calculation puts a fair price 80% below what the stock costs today.

Low debt
Revenue last quarter +47% vs. a year ago.
Mixed Growth (revenue 5y +57.9 %/yr in AUD)
Mixed vs. peers (4/10)
Fair value A$0.3995 · Strongly overvalued
Quality 34/100
Loss-making · -166.7% net margin (TTM)
Negative free cash flow
Narrow moat 8/100 · 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

A$2.91 A$0.4991 Fair Value A$0.3995 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range A$0.4991 – A$2.91 · fair‑value band A$0.2635 – A$0.5015 · the A$1.99 price screens above the A$0.3995 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 9, 2026.

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Company profile

PYC Therapeutics Limited, a drug-development company, engages in the discovery and development of novel RNA therapeutics for the treatment of genetic diseases in Australia.

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The company offers VP-001, a drug program, which is in Phase 1 clinical trial for the treatment of retinitis pigmentosa type 11; PYC-001, a drug candidate for treating blinding eye disease named Autosomal Dominant Optic Atrophy, which is in clinical studies; PYC-002, a drug program for the treatment of severe neurodevelopmental disorder named Phelan-McDermid Syndrome, which is in pre-clinical studies; and PYC-003 to treat autosomal dominant polycystic kidney disease, which is in early-stage clinical trials.

PYC Therapeutics Limited has academic-industry collaborations with Murdoch University to support drug discovery and development efforts in the field of neurodegenerative disorders. The company was formerly known as Phylogica Limited and changed its name to PYC Therapeutics Limited in November 2019.

PYC Therapeutics Limited was incorporated in 2001 and is based in Nedlands, Australia.

Stock analysis

PYC Therapeutics Ltd (PYC) currently trades at A$1.99, while our model-based Fair Value estimate is A$0.3995, 80% 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: A$0.2635 (bear) to A$0.5015 (bull), the price of A$1.99 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 34/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

PYC Therapeutics Ltd reported revenue of A$23.5M in FY2025 versus A$3.1M in FY2021, a compound +66.3%/yr. Reported net income was −A$43.3M in FY2026.

Key figures

Market cap A$2.0B (≈ $1.3B) Small · P/S ratio 74.6 · EPS (TTM) A$−0.0600 · Return on equity −10.1% · Return on assets (EBIT) −51.1% (5-year average) · Operating margin −188% · Revenue (TTM) A$26.0M · Revenue growth (YoY) +46.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 32% below its 52-week high and 87% 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 −80%, PYC screens richer than that median.

Fair Value models

Bear A$0.2635 Fair Value A$0.3995 Bull A$0.5015
Price A$1.99 · Downside -79.9%
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) A$0.3100 A$0.4700 A$0.5900 54
All 1 models by family
Asset-Based
NCAV (Graham) A$0.3100 A$0.4700 A$0.5900 54

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 34/100

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 29
Are margins and returns getting better?
Cashflow 12
Do the profits arrive as real cash?
Financial strength 81
Debt, balance sheet and risk of trouble
Investment 33
Does it invest with discipline instead of growing at any price?
Low Volatility 35
How calm the share price moves, does not count
Price momentum 74
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 75
Distance to the 52-week high, does not count
New shares 50
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. 36/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+6.5%
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.
+13.6%
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.
+57.9%
Start year 2020 (pandemic). Over 10 years: +39.7% a year
Revenue growth 20 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.
+35.7%
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.
−405.0% (2020) → −228.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

PYC screens overvalued: fair value 80% 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 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside −79.9% · Bottom 25%
Profitability
Return on assets −6.1% · Above median
Net margin (12 months) −166.7% · Bottom 25%
Operating margin (12 months) −188.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 46.6% · Top 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 2.82× · Pricier than median
P/S (12 months) 75.29× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 22

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

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

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PYC Therapeutics Ltd: fair value per Fair Value Calculator

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

Frequently asked questions

Is PYC Therapeutics Ltd (PYC) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of A$0.3995 versus a price of A$1.99, about 80% lower (overvalued).
What is the fair value of PYC?
Our model-based fair value for PYC Therapeutics Ltd is A$0.3995 (as of Nov 9, 2026), built from audited fundamentals. The current price: A$1.99.
What is the quality score of PYC?
PYC Therapeutics Ltd has a Quality Score of 34/100. 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 PYC Therapeutics Ltd (PYC)?
Our model-based price target is the fair value of A$0.3995 (as of Nov 9, 2026) from 1 valuation models. Cautious scenario A$0.2635, optimistic scenario A$0.5015. It is a calculation from audited fundamentals, not an analyst target.
What is the PYC Therapeutics Ltd stock forecast for 2026?
Our models put fair value at A$0.3995, about 80% lower versus a price of A$1.99 (overvalued). Cautious scenario A$0.2635, optimistic scenario A$0.5015. The calculation is refreshed regularly with new filings.
What is the revenue of PYC Therapeutics Ltd (PYC)?
PYC Therapeutics Ltd reported trailing-twelve-month revenue of about A$26.0M (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of PYC Therapeutics Ltd (PYC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PYC Therapeutics Ltd it is A$0.3995 per share (as of Nov 9, 2026), against a price of A$1.99. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is PYC Therapeutics Ltd stock overvalued or undervalued in 2026?
As of Nov 9, 2026, PYC trades above its calculated fair value: price A$1.99, fair value A$0.3995, a gap of about −80% (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 PYC?
No. The price is what the market pays today (A$1.99); the fair value is what the company's own numbers justify (A$0.3995). For PYC Therapeutics Ltd the two are A$1.59 per share apart. That gap is exactly why we show both numbers side by side.
How much is PYC Therapeutics Ltd worth?
The market values PYC Therapeutics Ltd at about A$2.0B (market capitalisation, as of Nov 9, 2026). Per share that is A$1.99; our models calculate a fair value of A$0.3995 per share.
What do the bullish and bearish scenarios say about PYC?
Our models span a range for PYC Therapeutics Ltd: cautious scenario A$0.2635, base A$0.3995, optimistic A$0.5015 per share (as of Nov 9, 2026, price A$1.99). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of PYC Therapeutics Ltd (PYC)?
Balance-sheet figures for PYC Therapeutics Ltd (as of Nov 9, 2026): return on equity −10.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 34/100, which measures business quality independently of the share price.
How far is PYC from its 52-week high?
PYC Therapeutics Ltd trades at A$1.99, about 32% below its 52-week high of A$2.91 and 87% above the low of A$1.07 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.3995 is for.
Which stocks are comparable to PYC Therapeutics 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 PYC Therapeutics Ltd stock attractive at the current price?
The data as of Nov 9, 2026: price A$1.99, calculated fair value A$0.3995 (−80%), Quality Score 34/100, 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 PYC calculated?
We run PYC Therapeutics Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of A$0.3995 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. PYC Therapeutics 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 PYC Therapeutics Ltd (PYC)?
The closing price on Nov 9, 2026 was A$1.99. Our model-based fair value is A$0.3995, about 80% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PYC Therapeutics Ltd right now?
The price sits above even our optimistic bull case (A$0.5015). The favourable scenario is already priced in. Weak quality (34/100) 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 (A$0.2635 to A$0.5015) leaves room in how you read the outcome.

Key figures of PYC Therapeutics Ltd

How large is the market capitalisation of PYC Therapeutics Ltd (PYC)?
The market capitalisation of PYC Therapeutics Ltd is A$2.0B (≈ $1.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of PYC Therapeutics Ltd (PYC)?
The price-to-sales ratio of PYC Therapeutics Ltd is 74.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PYC Therapeutics Ltd (PYC)?
Earnings per share at PYC Therapeutics Ltd are A$−0.0600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of PYC Therapeutics Ltd (PYC)?
The return on equity (ROE) of PYC Therapeutics Ltd is −10.1% (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 PYC Therapeutics Ltd (PYC)?
On an EBIT basis the return on assets of PYC Therapeutics Ltd is −51.1% (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 PYC Therapeutics Ltd (PYC)?
The operating margin of PYC Therapeutics Ltd is −188% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PYC Therapeutics Ltd (PYC)?
Revenue at PYC Therapeutics Ltd is growing +46.6% versus a year earlier (3y avg +13.6%). 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 PYC Therapeutics Ltd (PYC) generate?
The free cash flow of PYC Therapeutics Ltd is −A$45.1M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does PYC Therapeutics Ltd (PYC) hold?
PYC Therapeutics Ltd holds more cash than debt, A$52.9M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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