Analyst Group: Equity Research Report on STENOCARE - Tough Market Conditions Hampers the Growth
STENOCARE A/S (“STENOCARE” or the “Company”) continues to experience tough market conditions in Denmark because of increased competition and higher subsidy from the Danish Medicines Agency on a competing product, which has affected sales. Moreover, sales in international markets has been slower than earlier expected, due to a more sluggish market. However, we still see growth opportunities in the coming years, primarily through STENOCARE’s new innovative premium product, Astrum oil. Nevertheless, the current market conditions has led us to update our financial forecasts of STENOCARE and with estimated net sales of DKK 15.6m by 2026, and with an applied P/S multiple of 2.5x, a potential present value per share of DKK 1.3 (4.0) is derived in a Base scenario. The updated valuation is a result of the updated forecasts as well as the increased financial risk.
Read the equity research report here
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This is a press release from Analyst Group regarding the publication of an analysis on STENOCARE. Readers may assume that Analyst Group has received compensation for making the commentary. The Company has not been given an opportunity to influence the parts where Analyst Group has had opinions about the Company, future valuation or anything else that could be considered a subjective assessment.