BioArctic AB Class B (SE:BIOA.B)
:BIOA.B
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BioArctic AB Class B
(BIOA.B)
Select Model
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Rating:65Neutral
Price Target:
kr379.00
▲(22.42% Upside)
Action:Downgraded
Date:05/21/26
The score is primarily supported by strong financial performance (especially balance-sheet quality and recent profitability/cash generation) but is held back by high year-to-year volatility and a negative P/E that weakens valuation confidence. Technical indicators are broadly neutral, offering limited incremental support.
Positive Factors
Balance-sheet strength
Very low leverage and materially growing equity provide durable financial flexibility to fund R&D, absorb clinical setbacks and maintain operations without urgent financing. A strong balance sheet reduces insolvency risk and supports long-term program advancement and partnership negotiating power.
Negative Factors
Volatile revenue and earnings
Large swings from losses to strong profits and a steep TTM revenue decline make forecasting and capital planning difficult. Milestone-driven income produces lumpiness that undermines predictability of recurring cash flow, increasing execution and valuation risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Very low leverage and materially growing equity provide durable financial flexibility to fund R&D, absorb clinical setbacks and maintain operations without urgent financing. A strong balance sheet reduces insolvency risk and supports long-term program advancement and partnership negotiating power.
Read all positive factors
BioArctic AB Class B (BIOA.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr31.26B
Dividend YieldN/A
Average Volume (3M)142.19K
Price to Earnings (P/E)136.3
Beta (1Y)0.20
Revenue Growth-24.40%
EPS Growth-76.40%
CountrySE
Employees107
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)2.41
Shares Outstanding74,319,490
10 Day Avg. Volume198,890
30 Day Avg. Volume142,190
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)13.99
Price to Sales (P/S)13.76
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.38
Revenue Forecast (FY)kr1.14B
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...
How the Company Makes Money
BioArctic primarily makes money through partnering its drug candidates with larger pharmaceutical companies and monetizing its intellectual property. Key revenue streams include: (1) Licensing and collaboration income: BioArctic enters agreements ...
BioArctic AB Class B Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.15B | 2.00B | 257.35M | 616.00M | 228.29M | 23.15M |
| Gross Profit | 1.08B | 1.94B | 230.37M | 526.37M | 153.97M | -31.92M |
| EBITDA | 431.76M | 1.38B | -165.13M | 295.29M | 4.03M | -126.42M |
| Net Income | 213.24M | 1.02B | -177.08M | 229.25M | -11.18M | -119.79M |
Balance Sheet | ||||||
| Total Assets | 2.68B | 2.58B | 1.11B | 1.19B | 858.31M | 897.73M |
| Cash, Cash Equivalents and Short-Term Investments | 2.03B | 2.19B | 778.92M | 1.11B | 805.39M | 848.40M |
| Total Debt | 40.74M | 72.42M | 54.23M | 4.98M | 10.04M | 15.88M |
| Total Liabilities | 481.21M | 608.14M | 216.74M | 139.50M | 72.06M | 109.05M |
| Stockholders Equity | 2.20B | 1.97B | 894.94M | 1.05B | 786.24M | 788.68M |
Cash Flow | ||||||
| Free Cash Flow | 939.94M | 0.00 | -342.97M | 302.25M | -44.38M | -144.84M |
| Operating Cash Flow | 1.25B | 1.43B | -316.33M | 309.69M | -31.64M | -140.46M |
| Investing Cash Flow | -610.48M | -894.65M | 205.63M | -507.49M | -12.76M | -4.41M |
| Financing Cash Flow | 25.18M | 26.91M | 5.69M | 14.06M | -2.81M | -7.39M |
BioArctic AB Class B Technical Analysis
Positive
309.60
Price Trends
321.94
Positive
319.57
Positive
304.04
Positive
Market Momentum
4.49
Negative
50.80
Neutral
76.68
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 326.11, below the 50-day MA of 321.94, and above the 200-day MA of 304.04, indicating a bullish trend. The MACD of 4.49 indicates Negative momentum. The RSI at 50.80 is Neutral, neither overbought nor oversold. The STOCH value of 76.68 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | kr541.97M | 3.33 | 81.19% | ― | ― | ― | |
65 Neutral | kr31.26B | 136.34 | 68.77% | ― | -24.40% | -76.40% | |
53 Neutral | kr3.29B | -6.89 | -49.96% | ― | -41.17% | -0.30% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | kr3.43B | -4.82 | ― | ― | 4.84% | 17.25% | |
49 Neutral | kr2.18B | -6.11 | -47.20% | ― | 258.30% | 28.33% | |
42 Neutral | kr1.19B | -6.23 | -35.03% | ― | ― | 46.92% |
* Healthcare Sector Average
SE:BIOA.B
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BioArctic AB Class B Corporate Events
BioArctic Updates Share and Vote Count After Stock Option Exercise
May 29, 2026
BioArctic AB has issued 5,000 new Class B shares in May 2026 to fulfill obligations under its 2019/2028 stock option program, following the exercise of an equal number of options by participants. This modest increase reflects ongoing use of equity...
BioArctic AGM Backs Dividend, New Share Mandate and Employee Incentive Plan
May 28, 2026
BioArctic AB’s annual general meeting approved the 2025 income statements and balance sheets for the company and group, and set a dividend of SEK 2 per share, signaling continued confidence in its financial position. Shareholders also discha...
Eisai Sees Strong 2028 Sales Potential for BioArctic’s Alzheimer’s Drug Leqembi
May 25, 2026
BioArctic’s partner Eisai has published a sales simulation suggesting that Alzheimer’s drug Leqembi could generate around JPY 300 billion, roughly SEK 17.6 billion, in the company’s fiscal year 2028, underscoring the therapy̵...
BioArctic lifts royalties and milestones as Leqembi expands globally amid mixed regulatory signals
May 20, 2026
BioArctic reported strong first-quarter 2026 results driven by rising royalty income and a new commercial milestone payment from Eisai tied to Leqembi sales surpassing EUR 500 million in Eisai’s 2025 fiscal year. The company posted net reven...
BioArctic Set for Strong Royalty Lift as Eisai Hikes Leqembi Sales Outlook
May 15, 2026
BioArctic’s partner Eisai expects Leqembi sales to reach JPY 143.5 billion in fiscal 2026, equivalent to about SEK 8.4 billion and representing 63 percent growth year-on-year. This forecast implies roughly SEK 880 million in royalty income f...
BioArctic Sets Date for Q1 2026 Report and Investor Webcast
May 13, 2026
BioArctic AB, listed on Nasdaq Stockholm’s Large Cap, specializes in neurodegenerative disease therapies and leverages its proprietary BrainTransporter technology to improve delivery of drugs into the brain. The company co-developed Leqembi ...
FDA Extends Review Timeline for Eisai and BioArctic’s Leqembi Iqlik Starting Dose
May 8, 2026
BioArctic’s partner Eisai has had the U.S. FDA review period extended by three months for its supplemental Biologics License Application covering Leqembi Iqlik, a once-weekly subcutaneous starting dose of lecanemab for early Alzheimer’...
Surging Leqembi Sales Boost BioArctic Royalties as Global Alzheimer’s Rollout Expands
Apr 29, 2026
BioArctic’s Alzheimer’s franchise continues to gain traction as Leqembi, a monoclonal antibody targeting aggregated amyloid-beta, sees accelerating global uptake under partner Eisai’s stewardship. Approved in 53 countries and adv...
BioArctic Gains EUR 20 Million Milestone as Leqembi Sales Top EUR 500 Million
Apr 29, 2026
BioArctic’s strategic focus on neurodegenerative diseases centers on Leqembi, its pioneering Alzheimer’s therapy, alongside a broader pipeline targeting Parkinson’s disease, ALS and additional Alzheimer’s projects. Its part...
BioArctic Calls 2026 AGM, Expands Options for Shareholder Participation
Apr 21, 2026
BioArctic AB has called its 2026 Annual General Meeting, to be held on 28 May in Stockholm, giving shareholders the option to attend in person, by proxy or through postal voting. The company is following Swedish corporate governance norms by publi...
BioArctic Showcases Leqembi Momentum and BrainTransporter Deals in 2025 Report
Apr 21, 2026
BioArctic’s 2025 Annual and Sustainability Report highlights a year defined by the commercial and clinical progress of Leqembi, described as the world’s first disease-modifying treatment for Alzheimer’s disease and now approved i...
BioArctic Nomination Committee Proposes Strengthened Board Ahead of 2026 AGM
Mar 27, 2026
BioArctic’s Nomination Committee has proposed an eight-member board without deputies for election at the company’s Annual General Meeting on May 28, 2026, including the re-election of six current directors and chairperson Eugen Steiner...
BioArctic and Eisai Showcase Long-Term Lecanemab Use and New Parkinson’s Trial Tools
Mar 23, 2026
BioArctic’s partner Eisai reported new real-world data at the AD/PD 2026 congress showing strong long-term treatment persistence for intravenous lecanemab in early Alzheimer’s patients in the U.S., with most remaining on therapy beyond...
BioArctic and Eisai to Showcase New Long-Term Lecanemab Data at AD/PD 2026
Mar 11, 2026
BioArctic’s partner Eisai will present new long-term, real-world data on the Alzheimer’s drug lecanemab at the AD/PD 2026 congress in Copenhagen, including four-year results from the Clarity AD open-label extension and multiple analyse...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.