Educational use only — not investment advice. "Undervalued / fairly valued / overvalued" and every risk score reflect our models vs. price, which can be wrong or based on stale or incomplete data. Always review the company's own financials and SEC filings, and consult a licensed advisor, before acting.
This week in Biotech
Biotech — Sep 7 – Sep 11, 2026 (Wk 37): Biotech Risk Score Rises; Novartis Faces Setback, Encoded Therapeutics Sees Investment →The biotech sector's risk score increased this week, indicating a potentially more volatile environment. Novartis experienced a clinical trial failure, while RTW Biotech Opportunities made an additional investment in Encoded Therapeutics, highlighting continued activity in specific…
ICLR
Deeply undervalued
ICON PLC
Price$169.31
Model IV$399.30
P/IV0.34
Discount 58%
Return to IV: +135.8%
Market implies +5.7%/yr
vs model +23.6% · below model
IDYA
Deeply overvalued
IDEAYA Biosciences, Inc.
Price$37.59
Model IV$17.32
P/IV1.70
Premium +117%
Return to IV: -53.9%
Market implies +10.3%/yr
vs model +50.0% · below model
IFRX
Valuation N/A
InflaRx N.V.
Price$2.12
Model IV—
P/IV—
Limited data — see page
IKT
Valuation N/A
Inhibikase Therapeutics, Inc.
Price$2.34
Model IV—
P/IV—
Market implies +107.3%/yr
vs model +2.0% · above model
ILMN
Valuation N/A
ILLUMINA, INC.
Price$206.45
Model IV—
P/IV—
Market implies +17.7%/yr
vs model +3.0% · above model
IMA
Valuation N/A
ImageneBio, Inc.
Price$5.00
Model IV—
P/IV—
Market implies +53.3%/yr
vs model +2.0% · above model
IMCR
Deeply undervalued
Immunocore Holdings plc
Price$32.60
Model IV$87.31
P/IV0.33
Discount 63%
Return to IV: +167.8%
Market implies -19.3%/yr
vs model +50.0% · below model
IMDX
Valuation N/A
Insight Molecular Diagnostics Inc.
Price$4.20
Model IV—
P/IV—
Market implies +51.7%/yr
vs model +16.5% · above model
IMMP
Valuation N/A
IMMUTEP Ltd
Price$0.33
Model IV—
P/IV—
Limited data — see page
IMMX
Valuation N/A
Immix Biopharma, Inc.
Price$12.14
Model IV—
P/IV—
Limited data — see page
IMNM
Valuation N/A
Immunome Inc.
Price$24.67
Model IV—
P/IV—
Market implies +103.6%/yr
vs model +15.0% · above model
IMNN
Valuation N/A
Imunon, Inc.
Price$1.47
Model IV—
P/IV—
Market implies +11.3%/yr
vs model +15.0% · below model
IMRX
Valuation N/A
Immuneering Corp
Price$4.27
Model IV—
P/IV—
Market implies +93.3%/yr
vs model +15.0% · above model
IMTX
Valuation N/A
Immatics N.V.
Price$8.62
Model IV—
P/IV—
Limited data — see page
IMUX
Valuation N/A
IMMUNIC, INC.
Price$11.42
Model IV—
P/IV—
Limited data — see page
IMVT
Valuation N/A
Immunovant, Inc.
Price$37.36
Model IV—
P/IV—
Limited data — see page
INAB
Valuation N/A
IN8BIO, INC.
Price$1.07
Model IV—
P/IV—
Limited data — see page
INBS
Deeply overvalued
INTELLIGENT BIO SOLUTIONS INC.
Price$2.13
Model IV$0.66
P/IV3.89
Premium +223%
Return to IV: -69.0%
Market implies +9.1%/yr
vs model +11.4% · in line
INBX
Valuation N/A
Inhibrx Biosciences, Inc.
Price$105.61
Model IV—
P/IV—
Market implies +150.0%/yr
vs model +2.0% · above model
INCY
Deeply undervalued
INCYTE CORP
Price$121.47
Model IV$168.99
P/IV0.57
Discount 28%
Return to IV: +39.1%
Market implies +6.9%/yr
vs model +14.5% · below model
INDP
Valuation N/A
Indaptus Therapeutics, Inc.
Price$3.14
Model IV—
P/IV—
Limited data — see page
INKT
Valuation N/A
MiNK Therapeutics, Inc.
Price$12.00
Model IV—
P/IV—
Limited data — see page
INM
Deeply undervalued
InMed Pharmaceuticals Inc.
Price$1.30
Model IV$11.60
P/IV0.14
Discount 89%
Return to IV: +791.9%
Market implies -49.8%/yr
vs model +26.9% · below model
INMB
Valuation N/A
Inmune Bio, Inc.
Price$2.22
Model IV—
P/IV—
Market implies +123.8%/yr
vs model +2.0% · above model
INO
Valuation N/A
INOVIO PHARMACEUTICALS, INC.
Price$1.25
Model IV—
P/IV—
Market implies +101.8%/yr
vs model +2.0% · above model
INSM
Deeply overvalued
INSMED Inc
Price$119.92
Model IV$23.52
P/IV4.55
Premium +410%
Return to IV: -80.4%
Market implies +13.6%/yr
vs model +33.9% · below model
INTS
Valuation N/A
INTENSITY THERAPEUTICS, INC.
Price$3.98
Model IV—
P/IV—
Limited data — see page
INVA
Deeply undervalued
Innoviva, Inc.
Price$20.66
Model IV$64.08
P/IV0.33
Discount 68%
Return to IV: +210.2%
Market implies -9.4%/yr
vs model +6.5% · below model
IOVA
Valuation N/A
IOVANCE BIOTHERAPEUTICS, INC.
Price$8.60
Model IV—
P/IV—
Market implies -50.0%/yr
vs model +15.0% · below model
IPHA
Valuation N/A
Innate Pharma SA
Price$1.87
Model IV—
P/IV—
Limited data — see page
IPSC
Deeply overvalued
Century Therapeutics, Inc.
Price$1.94
Model IV$0.57
P/IV4.32
Premium +242%
Return to IV: -70.8%
Market implies +22.7%/yr
vs model +15.0% · above model
IQV
Deeply overvalued
IQVIA HOLDINGS INC.
Price$265.67
Model IV$168.95
P/IV1.08
Premium +57%
Return to IV: -36.4%
Market implies +12.5%/yr
vs model +7.6% · above model
IRD
Deeply overvalued
Opus Genetics, Inc.
Price$6.04
Model IV$1.60
P/IV2.73
Premium +278%
Return to IV: -73.5%
Market implies +16.1%/yr
vs model +50.0% · below model
IRON
Valuation N/A
Disc Medicine, Inc.
Price$70.06
Model IV—
P/IV—
Limited data — see page
ISPC
Valuation N/A
iSpecimen Inc.
Price$1.33
Model IV—
P/IV—
Market implies +22.0%/yr
vs model +2.0% · above model
IVA
Valuation N/A
Inventiva S.A.
Price$4.02
Model IV—
P/IV—
Limited data — see page
IVVD
Valuation N/A
Invivyd, Inc.
Price$0.79
Model IV—
P/IV—
Market implies +21.5%/yr
vs model +15.0% · above model
IXHL
Valuation N/A
Incannex Healthcare Inc.
Price$3.26
Model IV—
P/IV—
Market implies +123.1%/yr
vs model +15.0% · above model
JANX
Valuation N/A
Janux Therapeutics, Inc.
Price$17.10
Model IV—
P/IV—
Market implies +55.1%/yr
vs model +28.8% · above model
JBIO
Valuation N/A
Jade Biosciences, Inc.
Price$17.89
Model IV—
P/IV—
Limited data — see page
JSPR
Valuation N/A
Jasper Therapeutics, Inc.
Price$0.66
Model IV—
P/IV—
Limited data — see page
JSPRW
Valuation N/A
Jasper Therapeutics, Inc.
Price$0.01
Model IV—
P/IV—
Limited data — see page
KALA
Valuation N/A
KALA BIO, Inc.
Price$0.57
Model IV—
P/IV—
Market implies +6.2%/yr
vs model +15.0% · below model
KAPA
Valuation N/A
Kairos Pharma, LTD.
Price$1.76
Model IV—
P/IV—
Limited data — see page
KLRA
Valuation N/A
Kailera Therapeutics, Inc.
Price$13.75
Model IV—
P/IV—
Limited data — see page
KLRS
Valuation N/A
Kalaris Therapeutics, Inc.
Price$3.38
Model IV—
P/IV—
Limited data — see page
KMDA
Valuation N/A
KAMADA LTD
Price$7.92
Model IV—
P/IV—
Limited data — see page
KNSA
Deeply overvalued
Kiniksa Pharmaceuticals International, plc
Price$76.58
Model IV$48.57
P/IV1.00
Premium +58%
Return to IV: -36.6%
Market implies +13.5%/yr
vs model +10.0% · above model
KOD
Valuation N/A
Kodiak Sciences Inc.
Price$32.89
Model IV—
P/IV—
Limited data — see page
KRC
Overvalued
KILROY REALTY CORP
Price$34.90
Model IV$28.48
P/IV1.20
Premium +23%
Return to IV: -18.4%
KROS
Deeply undervalued
Keros Therapeutics, Inc.
Price$11.08
Model IV$34.65
P/IV0.32
Discount 68%
Return to IV: +212.8%
Market implies -10.5%/yr
vs model +10.0% · below model
KRRO
Valuation N/A
Korro Bio, Inc.
Price$13.81
Model IV—
P/IV—
Market implies +95.2%/yr
vs model +2.0% · above model
KRYS
Deeply overvalued
Krystal Biotech, Inc.
Price$347.00
Model IV$234.34
P/IV1.32
Premium +48%
Return to IV: -32.5%
Market implies +24.1%/yr
vs model +25.0% · in line
KTTA
Valuation N/A
Pasithea Therapeutics Corp.
Price$0.51
Model IV—
P/IV—
Market implies +25.5%/yr
vs model +15.0% · above model
KTTAW
Valuation N/A
Pasithea Therapeutics Corp.
Price$0.00
Model IV—
P/IV—
Market implies -24.4%/yr
KURA
Valuation N/A
Kura Oncology, Inc.
Price$11.39
Model IV—
P/IV—
Market implies +40.3%/yr
vs model +15.0% · above model
KYMR
Valuation N/A
Kymera Therapeutics, Inc.
Price$114.96
Model IV—
P/IV—
Market implies +93.1%/yr
vs model +2.0% · above model
KYNB
Valuation N/A
KYNTRA BIO, INC.
Price$7.97
Model IV—
P/IV—
Market implies +42.3%/yr
vs model +2.0% · above model
KYTX
Valuation N/A
Kyverna Therapeutics, Inc.
Price$7.26
Model IV—
P/IV—
Limited data — see page
KZIA
Valuation N/A
KAZIA THERAPEUTICS LTD
Price$11.19
Model IV—
P/IV—
Limited data — see page