BioArctic AB Class B (SE:BIOA.B)
:BIOA.B
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BioArctic AB Class B
(BIOA.B)
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Rating:71Outperform
Price Target:
kr345.00
▲(11.43% Upside)
Action:ReiteratedDate:02/20/26
The score is driven primarily by the strong 2025 financial inflection and a conservative balance sheet, tempered by historically volatile profitability/cash generation and uncertain free-cash-flow durability. Technicals are supportive with an established uptrend, while valuation (P/E ~30) is a meaningful headwind.
Positive Factors
Conservative balance sheet
Very low reported leverage gives BioArctic durable financial flexibility: it reduces insolvency risk, supports funding of clinical programs without urgent external financing, and preserves option value for selective partnering or licensing over the next 2–6 months and beyond.
Negative Factors
Uncertain free cash flow durability
Zero reported FCF in 2025 despite operating cash rebound signals that after-investment cash available to shareholders or reinvestment is uncertain. The historical lumpy cash conversion makes funding cadence and capital allocation decisions less predictable over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low reported leverage gives BioArctic durable financial flexibility: it reduces insolvency risk, supports funding of clinical programs without urgent external financing, and preserves option value for selective partnering or licensing over the next 2–6 months and beyond.
Read all positive factors
BioArctic AB Class B (BIOA.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr29.05B
Dividend YieldN/A
Average Volume (3M)142.19K
Price to Earnings (P/E)26.9
Beta (1Y)0.24
Revenue Growth1046.53%
EPS GrowthN/A
CountrySE
Employees107
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.10
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)1.84
Revenue Forecast (FY)kr1.19B
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 and licensing its drug candidates and technology to larger pharmaceutical companies. Key revenue streams typically include: (1) upfront payments received when a partner signs a license or collabor...
BioArctic AB Class B Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.00B | 257.35M | 616.00M | 228.29M | 23.15M |
| Gross Profit | 1.94B | 230.37M | 526.37M | 153.97M | -31.92M |
| EBITDA | 1.38B | -165.13M | 295.29M | 4.03M | -126.42M |
| Net Income | 1.02B | -177.08M | 229.25M | -11.18M | -119.79M |
Balance Sheet | |||||
| Total Assets | 2.58B | 1.11B | 1.19B | 858.31M | 897.73M |
| Cash, Cash Equivalents and Short-Term Investments | 2.19B | 778.92M | 1.11B | 805.39M | 848.40M |
| Total Debt | 72.42M | 54.23M | 4.98M | 10.04M | 15.88M |
| Total Liabilities | 608.14M | 216.74M | 139.50M | 72.06M | 109.05M |
| Stockholders Equity | 1.97B | 894.94M | 1.05B | 786.24M | 788.68M |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -342.97M | 302.25M | -44.38M | -144.84M |
| Operating Cash Flow | 1.43B | -316.33M | 309.69M | -31.64M | -140.46M |
| Investing Cash Flow | -894.65M | 205.63M | -507.49M | -12.76M | -4.41M |
| Financing Cash Flow | 26.91M | 5.69M | 14.06M | -2.81M | -7.39M |
BioArctic AB Class B Technical Analysis
Positive
309.60
Price Trends
317.53
Positive
311.78
Positive
281.21
Positive
Market Momentum
2.66
Negative
56.59
Neutral
86.78
Negative
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 313.43, below the 50-day MA of 317.53, and above the 200-day MA of 281.21, indicating a bullish trend. The MACD of 2.66 indicates Negative momentum. The RSI at 56.59 is Neutral, neither overbought nor oversold. The STOCH value of 86.78 is Negative, 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | kr29.05B | 26.91 | 68.77% | ― | 1046.53% | ― | |
56 Neutral | kr3.33B | -5.27 | ― | ― | -5.69% | 21.58% | |
55 Neutral | kr1.00B | 7.07 | 81.19% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | kr2.87B | -5.68 | -49.96% | ― | -91.85% | -6.65% | |
47 Neutral | kr1.51B | -5.81 | -47.20% | ― | 533.73% | 20.92% | |
45 Neutral | kr1.29B | -7.05 | -35.03% | ― | ― | 25.14% |
* Healthcare Sector Average
SE:BIOA.B
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BioArctic AB Class B Corporate Events
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...
BioArctic Updates Share Count After Stock Option Exercise
Feb 27, 2026
BioArctic AB has issued 78,000 new Class B shares in February 2026 to fulfill commitments under its 2019/2028 stock option program, providing equity-based incentives to participants. Following this issuance, the company’s total share count s...
BioArctic Enters “Growth Era” on Record 2025 and Expanding Leqembi Reach
Feb 18, 2026
BioArctic reported a transformative 2025, driven by rapid global expansion of Alzheimer’s therapy Leqembi through partner Eisai and record financial results that doubled its cash position. Leqembi, including the new subcutaneous Leqembi Iqli...
BioArctic Sets February 18 Release and Investor Call for Q4 2025 Report
Feb 11, 2026
BioArctic will publish its fourth quarter report for October to December 2025 on February 18, 2026, at 08:00 a.m. CET, underscoring a key financial update for investors in the fast-evolving neurodegenerative disease treatment space. The company wi...
BioArctic’s Partner Eisai Wins Priority Review in China for At-Home Leqembi Alzheimer’s Injection
Feb 9, 2026
BioArctic’s partner Eisai has secured Priority Review status in China for a Biologics License Application covering a subcutaneous autoinjector formulation of Leqembi for early Alzheimer’s disease. The move builds on Leqembi’s 202...
BioArctic Royalty Income Climbs on Rising Global Sales of Alzheimer’s Drug Leqembi
Feb 6, 2026
BioArctic reported that partner Eisai generated JPY 20.7 billion in global sales of Alzheimer’s drug Leqembi in the fourth quarter of 2025, resulting in SEK 127 million in royalties for BioArctic, a year-on-year increase of about 31 percent,...
Eisai Seeks EU Approval for Monthly Leqembi Maintenance Dosing, Enhancing BioArctic’s Alzheimer’s Franchise
Jan 26, 2026
Eisai, BioArctic’s long-standing partner, has submitted a Marketing Authorisation Variation to the European Medicines Agency to allow a once-every-four-weeks intravenous maintenance dosing regimen for Alzheimer’s drug Leqembi (lecanema...
BioArctic and Eisai Win FDA Priority Review for At‑Home Leqembi Autoinjector Start Dosing
Jan 26, 2026
BioArctic’s partner Eisai has secured U.S. FDA Priority Review for a supplemental Biologics License Application covering a new subcutaneous starting dose of Leqembi Iqlik, delivered via a weekly autoinjector, for patients with early-stage Al...
BioArctic Partner Eisai Wins China Review of At‑Home Leqembi Injection for Early Alzheimer’s
Jan 6, 2026
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, po...
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.
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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.