BioArctic AB Class B (BIOA.B) AI Stock Analysis

• Market Cap: kr29.52B
• Dividend Yield: N/A
• Average Volume (3M): 142.19K
• Price to Earnings (P/E): 29.0
• Beta (1Y): 0.29
• Revenue Growth: 1046.53%
• EPS Growth: N/A
• Country: SE
• Employees: 107
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.98
• Shares Outstanding: 74,237,490
• 10 Day Avg. Volume: 198,890
• 30 Day Avg. Volume: 142,190
• PEG Ratio: 0.56
• Price to Book (P/B): 19.74
• Price to Sales (P/S): 68.64
• P/FCF Ratio: -51.50
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: kr328.00 ▲(5.94% Upside)

BioArctic AB Class B scores well due to its strong financial performance and positive technical indicators. The company's robust profitability and cash flow metrics, along with a solid balance sheet, contribute significantly to its score. The technical analysis supports a bullish outlook, although caution is advised due to potential overbought conditions. The valuation is reasonable, though the lack of a dividend yield suggests a focus on growth over income distribution.

BioArctic AB Class B Business Overview & Revenue Model

Company Description

BioArctic AB (publ), a research-intensive biopharmaceutical company, develops biological drugs for patients with neurodegenerative disorders in Sweden. The company develops BAN2401, an immunotherapy, which is in Phase III clinical trials targeting the toxic amyloid-beta oligomers/protofibrils in Alzheimer's disease; and is in preclinical trials for treating Down's syndrome with dementia and traumatic brain injury, as well as BAN2401 Back-up, a disease modifying antibody treatment that is in late preclinical Phase for patients with early Alzheimer's disease. It also develops ABBV-0805, a monoclonal antibody for treating Parkinson's disease; and SC0806, a biodegradable device that is in Phase I/II clinical trial for spinal cord injuries. In addition, the company develops imaging and biochemical biomarkers for Alzheimer's and Parkinson's disease; and blood-brain-barrier technology that enables the passage of antibodies and other substances into the brain through the blood brain barrier, as well as focuses on developing ND3014 antibodies for treating neurodegenerative disorders; AD1801, AD1502, AD1503, AD-BT2802, AD-BT2803, and AD2603 for the treatment of Alzheimer's disease; and PD1601 and PD1602 for the treatment of Parkinson's disease. It has research collaboration agreement with Eisai and AbbVie. The company was formerly known as BioArctic Neuroscience AB and changed its name to BioArctic AB (publ) in 2016. BioArctic AB (publ) was founded in 1992 and is based in Stockholm, Sweden.

How the Company Makes Money

BioArctic generates revenue primarily through partnerships and collaborations with larger pharmaceutical companies, which may involve upfront payments, milestone payments, and royalties on sales of developed products. The company's revenue model is built on the successful advancement of its drug candidates through clinical trials, leading to licensing agreements or joint ventures. Additionally, BioArctic may receive funding through grants or public funding aimed at supporting research in biotechnology and neurodegenerative disease therapies. The company's strategic collaborations with industry leaders enhance its financial position and expand its market reach, contributing to its overall earnings.

BioArctic AB Class B Financial Statement Overview

Summary

BioArctic AB Class B demonstrates strong financial health with impressive profitability and cash flow metrics in the TTM. The company has shown resilience and growth, particularly in its income statement and cash flow generation. While historical data indicates some periods of volatility and negative margins, the recent performance suggests a positive trajectory. The balance sheet remains solid with low leverage, supporting the company's ability to sustain growth.

Income Statement

BioArctic AB Class B has shown impressive growth in its income statement metrics. The TTM data reveals a strong gross profit margin of 97.21% and a net profit margin of 57.37%, indicating high profitability. The EBIT and EBITDA margins are also robust at 64.82%. Revenue growth rate has improved to 3.05% in the TTM, showcasing a positive growth trajectory. However, historical data shows fluctuations with periods of negative margins, which could pose potential risks.

Balance Sheet

The balance sheet of BioArctic AB Class B is stable, with a low debt-to-equity ratio of 0.024 in the TTM, indicating minimal leverage. The return on equity is exceptionally high at 73.79%, reflecting efficient use of equity to generate profits. The equity ratio is strong, suggesting a solid financial foundation. However, the historical data shows some periods of negative return on equity, which could indicate past challenges in profitability.

Cash Flow

The cash flow statement indicates strong cash generation capabilities, with a free cash flow to net income ratio of 1.0 in the TTM, showing that the company is effectively converting its net income into cash. The operating cash flow to net income ratio is 4.06, highlighting robust cash flow relative to earnings. Free cash flow growth is positive at 3.717%, indicating improving cash flow trends. Historical data shows some volatility, but recent performance is strong.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.92B	257.35M	616.00M	228.29M	23.15M	62.35M
Gross Profit	1.86B	230.37M	526.37M	153.97M	-31.92M	12.11M
EBITDA	1.21B	-165.13M	295.29M	4.03M	-126.42M	-74.58M
Net Income	999.69M	-177.08M	229.25M	-11.18M	-119.79M	-68.52M
Balance Sheet
Total Assets	2.60B	1.11B	1.19B	858.31M	897.73M	1.05B
Cash, Cash Equivalents and Short-Term Investments	1.88B	778.92M	1.11B	805.39M	848.40M	999.94M
Total Debt	46.56M	54.23M	4.98M	10.04M	15.88M	20.77M
Total Liabilities	631.81M	216.74M	139.50M	72.06M	109.05M	143.01M
Stockholders Equity	1.97B	894.94M	1.05B	786.24M	788.68M	907.30M
Cash Flow
Free Cash Flow	1.09B	-342.97M	302.25M	-44.38M	-144.84M	-104.81M
Operating Cash Flow	1.09B	-316.33M	309.69M	-31.64M	-140.46M	-92.34M
Investing Cash Flow	-589.92M	205.63M	-507.49M	-12.76M	-4.41M	-12.52M
Financing Cash Flow	27.63M	5.69M	14.06M	-2.81M	-7.39M	-6.60M

BioArctic AB Class B Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 309.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BIOA.B, the sentiment is Positive. The current price of 309.6 is below the 20-day moving average (MA) of 319.22, above the 50-day MA of 301.20, and above the 200-day MA of 242.48, indicating a bullish trend. The MACD of 6.67 indicates Negative momentum. The RSI at 59.87 is Neutral, neither overbought nor oversold. The STOCH value of 78.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:BIOA.B.

BioArctic AB Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BIOA.B	76 Outperform	kr29.52B	29.01	68.77%	―	1046.53%	―
CANTA	67 Neutral	kr1.24B	10.08	81.19%	―	―	―
BINV	58 Neutral	kr1.99B	-6.21	-36.52%	―	533.73%	20.92%
VICO	58 Neutral	kr3.51B	-6.60	-71.87%	―	-91.85%	-6.65%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HNSA	49 Neutral	kr3.26B	-3.63	―	―	-5.69%	21.58%
XSPRAY	44 Neutral	kr1.29B	-5.26	-35.03%	―	―	25.14%

BioArctic AB Class B Corporate Events

BioArctic Partner Eisai Wins China Review of At‑Home Leqembi Injection for Early Alzheimer’s

BioArctic’s partner Eisai has had its Biologics License Application accepted by China’s National Medical Products Administration for a subcutaneous autoinjector formulation of Leqembi (lecanemab) for early Alzheimer’s disease, positioning the drug to potentially become the first anti-amyloid therapy in China that can be self-administered at home from treatment initiation. The weekly at-home SC dosing is intended to offer a more convenient alternative to hospital-based IV infusions, potentially easing pressure on healthcare resources in a country where Eisai estimates 17 million people were living with mild cognitive impairment or mild dementia due to Alzheimer’s in 2024, and its progress adds to Leqembi’s growing global regulatory and reimbursement footprint, which underpins BioArctic’s future royalty streams and its planned joint commercialization with Eisai in the Nordic market.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic’s Leqembi Gains Inclusion in China’s Innovative Drug List

BioArctic AB’s partner Eisai announced that Leqembi® has been included in China’s ‘Commercial Insurance Innovative Drug List,’ a significant step towards expanding access to early Alzheimer’s Disease treatment in China. This inclusion is expected to bridge the gap between basic reimbursement systems and innovative medicines, potentially impacting the company’s market presence and offering new opportunities for stakeholders.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic’s Lecanemab Shows Promise in Delaying Alzheimer’s Progression

BioArctic AB’s partner Eisai presented promising data at the CTAD 2025 conference indicating that continued treatment with lecanemab (Leqembi®) could delay the progression of Alzheimer’s disease by up to 8.3 years in certain patient groups. The findings suggest that early initiation of treatment may significantly slow disease progression, offering hope for improved patient outcomes. Additionally, the subcutaneous formulation of lecanemab, approved for use in the U.S. and under review in Japan, demonstrated bioequivalence to intravenous dosing, maintaining efficacy and safety while offering a more convenient administration option.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic AB Expands Share Count Through Stock Option Program

BioArctic AB has issued 4,000 Class B shares as part of its 2019/2028 stock option program, bringing the total number of shares to 88,641,485. This issuance reflects the company’s ongoing efforts to incentivize its workforce and align their interests with corporate growth, potentially impacting its market position and stakeholder value.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic and Eisai Submit Subcutaneous Leqembi Application in Japan

BioArctic AB and its partner Eisai have submitted a new drug application in Japan for a subcutaneous formulation of Leqembi, an anti-amyloid treatment for Alzheimer’s disease. This new formulation allows for at-home administration, potentially reducing healthcare resource demands and streamlining treatment pathways, marking a significant advancement in Alzheimer’s care.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

Eisai Completes FDA Submission for Home-Use Alzheimer’s Treatment

Eisai, in partnership with BioArctic AB, has completed the rolling submission of a Supplemental Biologics License Application to the U.S. FDA for Leqembi Iqlik, a subcutaneous autoinjector for Alzheimer’s treatment. If approved, this would allow patients to administer the treatment at home, potentially reducing healthcare resource utilization and streamlining the Alzheimer’s treatment pathway.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic’s Lecanemab Data to be Unveiled at CTAD Conference

BioArctic AB announced that its partner Eisai will present new data on their Alzheimer’s treatment, lecanemab, at the CTAD conference. The presentations will cover long-term treatment benefits, safety, and real-world clinical practice insights, potentially impacting the company’s market positioning and offering new options for Alzheimer’s treatment.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic’s Alzheimer’s Treatment Leqembi Gains UK Approval for Maintenance Dosing

BioArctic AB’s partner Eisai has received approval from the UK’s Medicines and Healthcare products Regulatory Agency for the intravenous maintenance dosing of Leqembi, a treatment for early Alzheimer’s disease. This approval allows patients to transition to a less frequent dosing schedule, potentially improving treatment adherence and quality of life for those affected by Alzheimer’s. The approval is based on successful Phase 3 clinical trial results and strengthens BioArctic and Eisai’s position in the Alzheimer’s treatment market.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic Expands Alzheimer’s Treatment Reach Amid Financial Losses

BioArctic AB reported its Q3 2025 interim results, highlighting a significant increase in net revenues driven by royalties from its Alzheimer’s treatment, Leqembi, and a new agreement with Novartis. Despite the revenue growth, the company faced a loss for the period, reflecting ongoing investments in research and development. Key achievements include regulatory approvals and launches of Leqembi in multiple countries, enhancing BioArctic’s market presence and potential future revenue streams.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic AB to Present Q3 2025 Financial Results

BioArctic AB announced it will release its third quarter financial report for 2025 on November 13, followed by an audiocast presentation and Q&A session led by the CEO and CFO. This event is significant for stakeholders as it provides insights into the company’s financial health and strategic direction, potentially impacting its market positioning and investor relations.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic Reports Surge in Leqembi® Royalties Amid Strong Sales

BioArctic AB reported a significant increase in royalties from the sales of Leqembi®, with third-quarter 2025 sales reaching 18 billion yen, resulting in a 68% increase in royalties compared to the previous year. This growth underscores the successful commercialization of Leqembi, a key product in BioArctic’s portfolio, and highlights the company’s strong position in the Alzheimer’s treatment market, with ongoing collaborations and clinical studies further supporting its industry standing.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

Health Canada Approves Leqembi for Early Alzheimer’s Treatment

Health Canada has authorized Leqembi (lecanemab) for treating early Alzheimer’s disease in patients with mild cognitive impairment or mild dementia. This approval marks a significant milestone as Leqembi is the first treatment in Canada targeting the disease’s underlying cause, potentially impacting the Alzheimer’s treatment landscape and offering new hope to patients and caregivers.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic AB Announces Formation of Nomination Committee for 2026 AGM

BioArctic AB has announced the formation of its Nomination Committee, which includes representatives from its three largest shareholders: Demban AB, Ackelsta AB, and The Fourth Swedish National Fund. This committee, representing a significant portion of the company’s shares and votes, will prepare proposals for the 2026 Annual General Meeting, impacting the company’s governance and strategic direction.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic Launches Leqembi Treatment for Alzheimer’s in the Nordics

BioArctic AB has announced the first treatment of a patient with Leqembi in Finland, marking a significant milestone in its efforts to address early Alzheimer’s disease in the Nordics. The approval and implementation of Leqembi, which targets amyloid-beta protofibrils and amyloid plaque, represent a strategic advancement for BioArctic as it seeks to expand its impact in the pharmaceutical industry and provide new treatment options for Alzheimer’s patients.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.

BioArctic’s Alzheimer’s Treatment Recognized as Top Innovation by TIME

BioArctic AB’s partner Eisai announced that Leqembi Iqlik, a subcutaneous autoinjector formulation of lecanemab for Alzheimer’s treatment, has been recognized by TIME as one of the best innovations of 2025 in the Medical and Healthcare category. This recognition highlights the innovation’s impact on Alzheimer’s treatment and strengthens BioArctic’s position in the biopharmaceutical industry, potentially enhancing its market presence and stakeholder confidence.

The most recent analyst rating on ($SE:BIOA.B) stock is a Buy with a SEK328.00 price target. To see the full list of analyst forecasts on BioArctic AB Class B stock, see the SE:BIOA.B Stock Forecast page.