Camurus AB (CAMX) AI Stock Analysis

• Market Cap: kr41.41B
• Dividend Yield: N/A
• Average Volume (3M): 126.83K
• Price to Earnings (P/E): 52.3
• Beta (1Y): 0.76
• Revenue Growth: 39.37%
• EPS Growth: 189.04%
• Country: SE
• Employees: 238
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 3.27
• Shares Outstanding: 59,880,184
• 10 Day Avg. Volume: 148,560
• 30 Day Avg. Volume: 126,834
• PEG Ratio: -15.28
• Price to Book (P/B): 9.97
• Price to Sales (P/S): 17.56
• P/FCF Ratio: 91.47
• 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: 73 Outperform
• Price Target: kr771.00 ▲(15.94% Upside)

Camurus AB's strong financial performance and robust earnings call results are offset by mixed technical indicators and high valuation concerns. The company's strategic R&D advancements and solid cash position support its growth potential, but challenges in revenue guidance and market conditions warrant caution.

Positive Factors

Strong liquidity position

A sizeable and growing net cash balance provides durable financial flexibility to fund late‑stage trials, commercial launches and U.S. expansion without immediate reliance on external capital. It reduces dilution risk and buffers timing uncertainty around milestone receipts.

High and sustainable margins

Very high gross margins reflect low COGS for proprietary formulations and pricing power via specialty drugs and royalties. Robust net margins indicate efficient operations and provide recurring cash to reinvest in R&D and commercialization over the next several years.

Proprietary delivery tech and advancing pipeline

FluidCrystal®‑based long‑acting delivery, recent approvals and orphan designations strengthen product differentiation and exclusivity. A progressing clinical pipeline and regulatory wins underpin a durable growth runway and licensing/partnership optionality.

Negative Factors

Revenue guidance cut tied to Brixadi concentration

Guidance reduction highlights concentration risk from reliance on Brixadi royalties and milestone timing. Persistent or repeat shortfalls could constrain reinvestment choices and make future planning and capital allocation more uncertain for the company.

European Buvidal funding headwinds

Dependence on public funding and local payer decisions for addiction treatments creates structural exposure to reimbursement cycles. Prolonged UK and EU funding delays can sustainably depress revenue in key markets and slow commercial momentum.

Negative free cash flow growth

A recent decline in free cash flow growth, despite strong operating cash conversion, signals rising investment or cost pressures. If continued, it may force external financing, slow reinvestment, or constrain commercial roll‑outs and R&D pacing over the medium term.

Camurus AB Business Overview & Revenue Model

Company Description

Camurus AB (publ), a pharmaceutical company, develops and commercializes medicines for severe and chronic conditions in Europe, Australia, the United States, Japan, and internationally. The company offers Buvidal, a buprenorphine injection for the treatment of opioid dependence; episil oral liquid, a medical device for the treatment of inflammatory and painful conditions in the oral cavity; and Brixadi to treat opioid use disorder Its products pipeline also includes CAM2038 for the treatment of chronic pain; CAM2029, which is in phase III clinical trials for the treatment of acromegaly and neuroendocrine tumors, as well as in phase II clinical trial to treat polycystic liver diseases; and CAM2043 that is in phase I clinical trial for the treatment of pulmonary arterial hypertension, as well as in Phase II clinical trial to treat Raynaud's phenomenon. In addition, the company is developing CAM2032, which is in phase II clinical trials for the treatment of prostate cancer; CAM4072 that is in phase III clinical trials for the treatment of genetic obesity disorders; CAM4071, which is in phase I clinical trials for the treatment of endocrine disorder; CAM2047 for the treatment of chemotherapy-induced nausea and vomiting that is in phase 1 clinical trial; and CAM2048, which is in phase I clinical trial for postoperative pain. Camurus AB (publ) was founded in 1991 and is headquartered in Lund, Sweden.

How the Company Makes Money

Camurus generates revenue primarily through the sale of its proprietary pharmaceutical products, including those developed using its FluidCrystal® technology. The company earns money through direct sales of its products, licensing agreements, and collaborations with other pharmaceutical companies. Key revenue streams include royalties from licensed products, milestone payments from partners as they achieve specific development or sales targets, and sales of its marketed products in various global markets. Additionally, Camurus has established strategic partnerships with larger pharmaceutical firms, which enhance its research capacity and market reach, further contributing to its overall earnings.

Camurus AB Financial Statement Overview

Summary

Camurus AB demonstrates strong financial health with high profitability and a solid balance sheet. The company maintains a low debt-to-equity ratio and strong cash flow generation, although recent declines in free cash flow growth warrant monitoring.

Income Statement

Camurus AB has demonstrated strong revenue growth and profitability. The TTM data shows a gross profit margin of 93.5% and a net profit margin of 31.7%, indicating efficient cost management and strong profitability. Revenue growth rate has been positive, although it has slowed compared to previous years. The EBIT and EBITDA margins are robust, reflecting operational efficiency.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio of 0.027, indicating low leverage and financial stability. The return on equity is healthy at 20.9%, showcasing effective use of equity to generate profits. The equity ratio is strong, suggesting a well-capitalized structure.

Cash Flow

Camurus AB's cash flow position is stable, with a high operating cash flow to net income ratio of 1.53, indicating strong cash generation relative to net income. However, free cash flow growth has been negative recently, which could be a concern if it persists. The free cash flow to net income ratio remains strong at 0.88.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.35B	1.87B	1.72B	956.34M	600.57M	336.00M
Gross Profit	2.19B	1.74B	1.59B	853.08M	515.22M	300.71M
EBITDA	1.02B	568.24M	562.54M	87.59M	-97.72M	-196.58M
Net Income	781.67M	428.39M	431.44M	55.55M	-90.45M	-167.26M
Balance Sheet
Total Assets	4.63B	3.76B	1.91B	1.31B	1.08B	1.04B
Cash, Cash Equivalents and Short-Term Investments	3.51B	2.85B	1.19B	565.54M	411.57M	461.79M
Total Debt	106.31M	17.04M	24.51M	26.22M	25.66M	25.48M
Total Liabilities	510.02M	467.33M	414.82M	310.82M	232.99M	196.66M
Stockholders Equity	4.12B	3.29B	1.49B	994.67M	848.91M	847.44M
Cash Flow
Free Cash Flow	605.14M	358.62M	596.75M	99.29M	-148.37M	-242.16M
Operating Cash Flow	717.12M	387.99M	606.88M	101.20M	-143.43M	-238.83M
Investing Cash Flow	-112.62M	-29.37M	-10.13M	5.38M	-4.94M	-3.33M
Financing Cash Flow	170.64M	1.30B	28.76M	43.70M	98.90M	347.85M

Camurus AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 665.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CAMX, the sentiment is Positive. The current price of 665 is above the 20-day moving average (MA) of 632.23, above the 50-day MA of 617.16, and above the 200-day MA of 634.08, indicating a bullish trend. The MACD of 20.56 indicates Negative momentum. The RSI at 74.39 is Negative, neither overbought nor oversold. The STOCH value of 88.46 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:CAMX.

Camurus AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BIOA.B	76 Outperform	kr29.16B	29.11	68.77%	―	1046.53%	―
CAMX	73 Outperform	kr41.41B	52.28	20.86%	―	39.37%	189.04%
BINV	58 Neutral	kr1.92B	-5.93	-36.52%	―	533.73%	20.92%
VICO	58 Neutral	kr3.36B	-6.49	-71.87%	―	-91.85%	-6.65%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HNSA	49 Neutral	kr3.45B	-3.81	―	―	-5.69%	21.58%
XSPRAY	42 Neutral	kr1.04B	-4.26	-35.03%	―	―	25.14%

Camurus AB Corporate Events

Camurus’ acromegaly drug Oclaiz gains FDA review date after resubmitted US filing

Camurus has announced that the US Food and Drug Administration has accepted for review the resubmitted New Drug Application for Oclaiz (CAM2029), a once-monthly, subcutaneous, extended-release octreotide injection for treating acromegaly, and has set a Prescription Drug User Fee Act target action date of 10 June 2026. The filing, which follows an earlier Complete Response Letter tied to cGMP issues at a third-party manufacturer rather than clinical concerns, is backed by seven clinical studies including two Phase 3 trials demonstrating improved biochemical control, symptom reduction and quality-of-life benefits versus standard of care, and follows the product’s 2025 approval and ongoing launch in the EU and UK under the name Oczyesa, underscoring Camurus’ bid to expand its endocrine portfolio and US presence while advancing CAM2029 in additional indications such as GEP-NET and polycystic liver disease.

The most recent analyst rating on (SE:CAMX) stock is a Buy with a SEK691.00 price target. To see the full list of analyst forecasts on Camurus AB stock, see the SE:CAMX Stock Forecast page.

Camurus Increases Share Capital After Employee Stock Option Exercise

Camurus has reported a minor increase in its share capital after employees exercised 7,350 stock options under the company’s ESOP 2022/2026 program during December 2025, resulting in the issuance of an equivalent number of new registered shares. Following this transaction, the total number of shares and votes in Camurus rose from 59,872,834 to 59,880,184, a small dilution that reflects ongoing use of equity-based incentives to retain and motivate staff, with limited immediate impact on ownership structure but signalling continued alignment of employees with shareholder interests.

The most recent analyst rating on (SE:CAMX) stock is a Buy with a SEK691.00 price target. To see the full list of analyst forecasts on Camurus AB stock, see the SE:CAMX Stock Forecast page.

Camurus Increases Shares and Votes Following Employee Stock Option Exercise

Camurus has announced an increase in its number of shares and votes following the exercise of 24,200 employee stock options from its ESOP 2022/2026 program. This increase reflects the company’s ongoing commitment to employee participation and could potentially enhance its market positioning by aligning employee interests with corporate growth.

The most recent analyst rating on (SE:CAMX) stock is a Buy with a SEK691.00 price target. To see the full list of analyst forecasts on Camurus AB stock, see the SE:CAMX Stock Forecast page.

Camurus Announces Nomination Committee for AGM 2026

Camurus has announced the appointment of its Nomination Committee for the Annual General Meeting (AGM) 2026, consisting of representatives from major shareholders holding about 40% of the company’s shares and votes. This committee will present its proposals in the Notice to the AGM 2026, and shareholders are invited to submit their proposals by specified deadlines. The AGM is scheduled for 28 May 2026 in Lund, Sweden.

The most recent analyst rating on (SE:CAMX) stock is a Hold with a SEK684.00 price target. To see the full list of analyst forecasts on Camurus AB stock, see the SE:CAMX Stock Forecast page.

Camurus Reports Positive Phase 1b Results for Monthly Semaglutide Depot

Camurus announced promising results from a Phase 1b study of CAM2056, a monthly semaglutide formulation, showing significant weight and A1c reductions compared to weekly semaglutide. The study indicates CAM2056’s potential for convenient monthly dosing with rapid initiation, positioning Camurus as a competitive player in the obesity and type 2 diabetes treatment market.

The most recent analyst rating on (SE:CAMX) stock is a Hold with a SEK618.00 price target. To see the full list of analyst forecasts on Camurus AB stock, see the SE:CAMX Stock Forecast page.

Camurus AB Reports Strong Q3 2025 Financial Performance and Strategic Milestones

Camurus AB reported significant financial growth in the third quarter of 2025, with total revenues increasing by 18% to SEK 567 million and profit before tax rising by 48% to SEK 245 million. The company achieved notable milestones, including the UK approval of Oczyesa® for acromegaly treatment and orphan drug designations for CAM2029 in the US and Europe. Despite lowering its revenue guidance for 2025, Camurus maintained its profit forecast, reflecting strong operational performance and strategic positioning in the biopharmaceutical industry.

The most recent analyst rating on (SE:CAMX) stock is a Hold with a SEK718.00 price target. To see the full list of analyst forecasts on Camurus AB stock, see the SE:CAMX Stock Forecast page.