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Santhera Pharmaceuticals Holding AG (SANN) fair value: what the stock is really worth

We calculate from audited financials what Santhera Pharmaceuticals Holding AG 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? Yes
  2. Good quality? No
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Healthcare · CH · ISIN CH0027148649

SP Thin data Sep 21, 2026

Santhera Pharmaceuticals Holding AG

SANN · SW

SpeculativeUpside exists, but weak quality makes the signal speculative.

Fair value CHF 21.84 · Undervalued (+38%)
!Quality 17/100
!Mixed Growth (revenue 5y +38.8 %/yr)
!Loss-making · -63.8% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Mixed vs. peers (4/8)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

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

Price vs Fair Value

CHF 27.80 CHF 5.00 Fair Value CHF 21.84 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 21, 2026.

How to read this chart

60‑month range CHF 5.00 – CHF 27.80 · fair‑value band CHF 13.04 – CHF 28.35 · the CHF 15.82 price screens below the CHF 21.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 21, 2026.

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Company profile

Santhera Pharmaceuticals Holding AG, a specialty pharmaceutical company, together with its subsidiaries, develops and sells medicines for rare neuromuscular and pulmonary diseases with high unmet medical need in the Europe, North America, and Asia.

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Santhera Pharmaceuticals Holding AG, a specialty pharmaceutical company, together with its subsidiaries, develops and sells medicines for rare neuromuscular and pulmonary diseases with high unmet medical need in the Europe, North America, and Asia. The company's lead pipeline candidate includes Vamorolone, which is developed for the treatments of Duchenne muscular dystrophy. Santhera Pharmaceuticals Holding AG was founded in 2004 and is based in Pratteln, Switzerland.

Stock analysis

Santhera Pharmaceuticals Holding AG (SANN) currently trades at CHF 15.82, while our model-based Fair Value estimate is CHF 21.84, implying the stock looks roughly 27.6% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: CHF 13.04 (bear) to CHF 28.35 (bull), the price of CHF 15.82 sits inside 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 17/100 (below-average quality), in the Healthcare sector.

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

Santhera Pharmaceuticals Holding AG reported revenue of CHF 77.2M in FY2025 versus −CHF 1.6M in FY2021. Reported net income was −CHF 49.2M in FY2025.

Key figures

Market cap CHF 226M · P/S ratio 3.07 · EPS (TTM) CHF −3.78 · Dividend yield 13.8% · Net margin −63.8% · Return on equity −620% · Return on assets (EBIT) −25.7% · Operating margin −4.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 16% below its 52-week high and 69% 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 38%, SANN screens cheaper than that median.

Fair Value models

Bear CHF 13.04 Fair Value CHF 21.84 Bull CHF 28.35
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence Evidence = 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.
Highest evidence
Gordon GGM CHF 15.34 CHF 25.69 CHF 33.35 66
DDM Multi-Stage CHF 15.34 CHF 24.37 CHF 27.64 65
All 2 models by family
Dividend Discount
Gordon GGM CHF 15.34 CHF 25.69 CHF 33.35 66
DDM Multi-Stage CHF 15.34 CHF 24.37 CHF 27.64 65

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Quality Score breakdown

Overall quality 17/100

Of which business quality 19 · Market factors (momentum, volatility) 53

Profitability 13
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 57
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 57
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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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. 35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+97.3%
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.
+117.8%
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.
+38.8%
Revenue growth 19 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.
+27.3%
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.
−353.7% (2020) → −49.0% (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

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Peer GroupHow 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 · 650 stocks

Beats the industry median on 4/8 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 19 · Bottom 25%
Fair Value upside +39% · Top 25%
Profitability
Return on assets −16% · Below median
Net margin (TTM) −64% · Bottom 25%
Operating margin (TTM) −4% · Below median
Growth and dividend
Revenue growth 113% · Top 25%
Dividend yield (TTM) 13.8% · Top 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/S (TTM) 3.61× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)84 · 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 23

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 $514.63 $566.09 +10%
Regeneron Pharmaceuticals, Inc REGN $774.11 $1,241 +60%
argenx SE ARGX $984.69 $917.18 −7%
BeOne Medicines AG 688235 ¥247.30 ¥124.62 −50%
Samsung Biologics Co 207940 1,396,000 KRW 1,535,600 KRW +10%
CSL Limited CSL A$174.41 A$191.85 +10%
Alnylam Pharmaceuticals, Inc ALNY $238.27 $211.88 −11%
Royalty Pharma plc RPRX $58.47 $24.22 −59%
Celltrion, Inc 068270 180,300 KRW 74,519 KRW −59%
BioNTech SE BNTX $98.00 $62.48 −36%

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Cite: Fair Value Calculator (2026). "Santhera Pharmaceuticals Holding AG Fair Value". https://www.fairvalue-calculator.com/stock/SANN

Frequently asked questions

Is Santhera Pharmaceuticals Holding AG (SANN) overvalued or undervalued?
As of Sep 21, 2026, our model estimates a fair value of CHF 21.84 versus a price of CHF 15.82, about +38% upside (undervalued).
What is the fair value of SANN?
Our model-based fair value for Santhera Pharmaceuticals Holding AG is CHF 21.84 (as of Sep 21, 2026), built from audited fundamentals. The current price: CHF 15.82.
What is the quality score of SANN?
Santhera Pharmaceuticals Holding AG has a Quality Score of 17/100. 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 Santhera Pharmaceuticals Holding AG (SANN)?
Our model-based price target is the fair value of CHF 21.84 (as of Sep 21, 2026) from 2 valuation models. Cautious scenario CHF 13.04, optimistic scenario CHF 28.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Santhera Pharmaceuticals Holding AG stock forecast for 2026?
Our models put fair value at CHF 21.84, about +38% upside versus a price of CHF 15.82 (undervalued). Cautious scenario CHF 13.04, optimistic scenario CHF 28.35. The calculation is refreshed regularly with new filings.
What is the revenue of Santhera Pharmaceuticals Holding AG (SANN)?
Santhera Pharmaceuticals Holding AG reported trailing-twelve-month revenue of about CHF 77.2M (latest available figure, as of Sep 21, 2026).
Does Santhera Pharmaceuticals Holding AG pay a dividend?
Santhera Pharmaceuticals Holding AG currently shows a dividend yield of about 13.80% relative to its recent price (as of Sep 21, 2026).
What is the intrinsic value of Santhera Pharmaceuticals Holding AG (SANN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Santhera Pharmaceuticals Holding AG it is CHF 21.84 per share (as of Sep 21, 2026), against a price of CHF 15.82. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Santhera Pharmaceuticals Holding AG stock overvalued or undervalued in 2026?
As of Sep 21, 2026, SANN trades below its calculated fair value: price CHF 15.82, fair value CHF 21.84, a gap of about +38% (undervalued). 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 SANN?
No. The price is what the market pays today (CHF 15.82); the fair value is what the company's own numbers justify (CHF 21.84). For Santhera Pharmaceuticals Holding AG the two are CHF 6.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Santhera Pharmaceuticals Holding AG worth?
The market values Santhera Pharmaceuticals Holding AG at about CHF 226M (market capitalisation, as of Sep 21, 2026). Per share that is CHF 15.82; our models calculate a fair value of CHF 21.84 per share.
What do the bullish and bearish scenarios say about SANN?
Our models span a range for Santhera Pharmaceuticals Holding AG: cautious scenario CHF 13.04, base CHF 21.84, optimistic CHF 28.35 per share (as of Sep 21, 2026, price CHF 15.82). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is SANN from its 52-week high?
Santhera Pharmaceuticals Holding AG trades at CHF 15.82, about 16% below its 52-week high of CHF 18.84 and 69% above the low of CHF 9.38 (as of Sep 21, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 21.84 is for.
Which stocks are comparable to Santhera Pharmaceuticals Holding AG?
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 Santhera Pharmaceuticals Holding AG stock attractive at the current price?
The data as of Sep 21, 2026: price CHF 15.82, calculated fair value CHF 21.84 (+38%), Quality Score 17/100, from 2 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 SANN calculated?
We run Santhera Pharmaceuticals Holding AG through 2 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 CHF 21.84, 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 16.6 % above its aggregate fair value. Santhera Pharmaceuticals Holding AG currently trades 38 % below its own fair value, and the market average says nothing about that. 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 Santhera Pharmaceuticals Holding AG (SANN)?
The closing price on Sep 22, 2026 was CHF 15.82. Our model-based fair value is CHF 21.84, about +38% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Santhera Pharmaceuticals Holding AG right now?
The large discount to fair value meets weak quality (17/100). That raises the risk this is a value trap rather than a bargain. 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 (CHF 13.04 to CHF 28.35) leaves room in how you read the outcome.

Key figures of Santhera Pharmaceuticals Holding AG

How large is the market capitalisation of Santhera Pharmaceuticals Holding AG (SANN)?
The market capitalisation of Santhera Pharmaceuticals Holding AG is CHF 226M. 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 Santhera Pharmaceuticals Holding AG (SANN)?
The price-to-sales ratio of Santhera Pharmaceuticals Holding AG is 3.07 (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 Santhera Pharmaceuticals Holding AG (SANN)?
Earnings per share at Santhera Pharmaceuticals Holding AG are CHF −3.78. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Santhera Pharmaceuticals Holding AG (SANN)?
The dividend yield of Santhera Pharmaceuticals Holding AG is 13.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Santhera Pharmaceuticals Holding AG (SANN)?
The net margin of Santhera Pharmaceuticals Holding AG is −63.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Santhera Pharmaceuticals Holding AG (SANN)?
The return on equity (ROE) of Santhera Pharmaceuticals Holding AG is −620% (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 Santhera Pharmaceuticals Holding AG (SANN)?
On an EBIT basis the return on assets of Santhera Pharmaceuticals Holding AG is −25.7% (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 Santhera Pharmaceuticals Holding AG (SANN)?
The operating margin of Santhera Pharmaceuticals Holding AG is −4.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Santhera Pharmaceuticals Holding AG (SANN)?
Revenue at Santhera Pharmaceuticals Holding AG is growing +113% versus a year earlier (3y avg +118%). 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 Santhera Pharmaceuticals Holding AG (SANN) generate?
The free cash flow of Santhera Pharmaceuticals Holding AG is −CHF 34.8M (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 Santhera Pharmaceuticals Holding AG (SANN) carry?
The net debt of Santhera Pharmaceuticals Holding AG is CHF 75.3M (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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