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…
NCEL
Valuation N/A
NewcelX Ltd.
Price$3.30
Model IV—
P/IV—
Limited data — see page
NCNA
Valuation N/A
NuCana plc
Price$1.32
Model IV—
P/IV—
Limited data — see page
NERV
Valuation N/A
Minerva Neurosciences, Inc.
Price$3.83
Model IV—
P/IV—
Limited data — see page
NEUP
Deeply undervalued
Neuphoria Therapeutics Inc.
Price$3.73
Model IV$16.13
P/IV0.33
Discount 77%
Return to IV: +332.5%
Market implies -31.6%/yr
vs model +15.0% · below model
NGEN
Valuation N/A
NERVGEN PHARMA CORP.
Price$2.20
Model IV—
P/IV—
Limited data — see page
NGNE
Valuation N/A
Neurogene Inc.
Price$37.61
Model IV—
P/IV—
Market implies +106.3%/yr
vs model +15.0% · above model
NKTR
Valuation N/A
NEKTAR THERAPEUTICS
Price$68.50
Model IV—
P/IV—
Market implies +95.7%/yr
vs model +2.0% · above model
NKTX
Valuation N/A
Nkarta, Inc.
Price$2.92
Model IV—
P/IV—
Limited data — see page
NMRA
Valuation N/A
Neumora Therapeutics, Inc.
Price$1.14
Model IV—
P/IV—
Limited data — see page
NNNN
Valuation N/A
Anbio Biotechnology
Price$6.54
Model IV—
P/IV—
Market implies +34.1%/yr
vs model +2.0% · above model
NNVC
Valuation N/A
NANOVIRICIDES, INC.
Price$1.12
Model IV—
P/IV—
Limited data — see page
NOTV
Valuation N/A
Inotiv, Inc.
Price$0.01
Model IV—
P/IV—
Market implies -50.0%/yr
vs model +50.0% · below model
NRIX
Valuation N/A
Nurix Therapeutics, Inc.
Price$24.83
Model IV—
P/IV—
Market implies +35.5%/yr
vs model +29.6% · above model
NRSN
Valuation N/A
NeuroSense Therapeutics Ltd.
Price$6.90
Model IV—
P/IV—
Limited data — see page
NTHI
Valuation N/A
NEONC TECHNOLOGIES HOLDINGS, INC.
Price$3.31
Model IV—
P/IV—
Market implies +130.0%/yr
vs model +2.0% · above model
NUVB
Valuation N/A
Nuvation Bio Inc.
Price$5.94
Model IV—
P/IV—
Market implies -50.0%/yr
vs model +15.0% · below model
NUVL
Valuation N/A
Nuvalent, Inc.
Price$123.96
Model IV—
P/IV—
Limited data — see page
NVAX
Valuation N/A
NOVAVAX INC
Price$9.42
Model IV—
P/IV—
Market implies +37.0%/yr
vs model +2.0% · above model
NVCT
Valuation N/A
Nuvectis Pharma, Inc.
Price$23.99
Model IV—
P/IV—
Limited data — see page
NVO
Valuation N/A
NOVO NORDISK A S
Price$43.07
Model IV—
P/IV—
Limited data — see page
NXTC
Valuation N/A
NextCure, Inc.
Price$7.00
Model IV—
P/IV—
Limited data — see page
NXTS
Valuation N/A
Nexentis Technologies Inc.
Price$1.62
Model IV—
P/IV—
Market implies +31.2%/yr
vs model +15.0% · above model
OABI
Valuation N/A
OmniAb, Inc.
Price$4.07
Model IV—
P/IV—
Market implies +52.7%/yr
vs model +2.0% · above model
OACC
Valuation N/A
Oaktree Acquisition Corp. III Life Sciences
Price$10.77
Model IV—
P/IV—
Limited data — see page
OCGN
Valuation N/A
Ocugen, Inc.
Price$1.02
Model IV—
P/IV—
Market implies +70.9%/yr
vs model +15.0% · above model
OCS
Valuation N/A
Oculis Holding AG
Price$10.56
Model IV—
P/IV—
Limited data — see page
OCSAW
Valuation N/A
Oculis Holding AG
Price$3.83
Model IV—
P/IV—
Limited data — see page
OCUL
Valuation N/A
OCULAR THERAPEUTIX, INC
Price$10.49
Model IV—
P/IV—
Market implies +55.6%/yr
vs model +4.5% · above model
ODTX
Valuation N/A
Odyssey Therapeutics, Inc.
Price$21.99
Model IV—
P/IV—
Limited data — see page
OFIX
Deeply undervalued
Orthofix Medical Inc.
Price$8.93
Model IV$52.46
P/IV0.18
Discount 83%
Return to IV: +487.5%
Market implies -34.7%/yr
vs model +15.4% · below model
OGEN
Valuation N/A
ORAGENICS INC
Price$0.49
Model IV—
P/IV—
Market implies +48.4%/yr
vs model +15.0% · above model
OKUR
Valuation N/A
OnKure Therapeutics, Inc.
Price$2.93
Model IV—
P/IV—
Limited data — see page
OKYO
Valuation N/A
OKYO Pharma Ltd
Price$1.40
Model IV—
P/IV—
Limited data — see page
OLMA
Valuation N/A
Olema Pharmaceuticals, Inc.
Price$10.22
Model IV—
P/IV—
Limited data — see page
OMER
Valuation N/A
OMEROS CORP
Price$18.28
Model IV—
P/IV—
Limited data — see page
ONC
Valuation N/A
BeOne Medicines Ltd.
Price$346.51
Model IV—
P/IV—
Market implies +22.7%/yr
vs model +46.0% · below model
ONCO
Fairly valued
Onconetix, Inc.
Price$0.65
Model IV$0.65
P/IV1.84
Discount 1%
Return to IV: +1.1%
Market implies -3.5%/yr
vs model +15.0% · below model
ONCY
Valuation N/A
ONCOLYTICS BIOTECH INC
Price$0.75
Model IV—
P/IV—
Limited data — see page
ORIC
Valuation N/A
Oric Pharmaceuticals, Inc.
Price$12.04
Model IV—
P/IV—
Limited data — see page
ORKA
Valuation N/A
Oruka Therapeutics, Inc.
Price$92.20
Model IV—
P/IV—
Limited data — see page
OSTX
Valuation N/A
OS Therapies Inc
Price$1.68
Model IV—
P/IV—
Limited data — see page
OTLK
Valuation N/A
Outlook Therapeutics, Inc.
Price$0.66
Model IV—
P/IV—
Market implies +42.2%/yr
vs model +15.0% · above model
OVID
Valuation N/A
Ovid Therapeutics Inc.
Price$2.71
Model IV—
P/IV—
Market implies +75.8%/yr
vs model +2.0% · above model
PACB
Valuation N/A
PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Price$1.30
Model IV—
P/IV—
Market implies +40.8%/yr
vs model +5.2% · above model
PALI
Valuation N/A
PALISADE BIO, INC.
Price$2.06
Model IV—
P/IV—
Market implies +91.3%/yr
vs model +15.0% · above model
PASG
Valuation N/A
Passage BIO, Inc.
Price$4.86
Model IV—
P/IV—
Limited data — see page
PBM
Valuation N/A
PSYENCE BIOMEDICAL LTD.
Price$6.07
Model IV—
P/IV—
Limited data — see page
PBSV
Deeply overvalued
Pharma-Bio Serv, Inc.
Price$0.41
Model IV$0.14
P/IV4.00
Premium +204%
Return to IV: -67.1%
Market implies +16.4%/yr
vs model +2.0% · above model
PBYI
Undervalued
PUMA BIOTECHNOLOGY, INC.
Price$9.12
Model IV$9.98
P/IV0.72
Discount 9%
Return to IV: +9.4%
Market implies +0.4%/yr
vs model +3.0% · in line
PCSC
Valuation N/A
Perceptive Capital Solutions Corp
Price$11.95
Model IV—
P/IV—
Limited data — see page
PCVX
Valuation N/A
Vaxcyte, Inc.
Price$59.54
Model IV—
P/IV—
Limited data — see page
PDSB
Valuation N/A
PDS Biotechnology Corp
Price$0.29
Model IV—
P/IV—
Limited data — see page
PEPG
Valuation N/A
PepGen Inc.
Price$2.98
Model IV—
P/IV—
Limited data — see page
PGEN
Valuation N/A
PRECIGEN, INC.
Price$6.85
Model IV—
P/IV—
Market implies +109.0%/yr
vs model +2.0% · above model
PHAR
Undervalued
Pharming Group N.V.
Price$10.55
Model IV$13.22
P/IV0.85
Discount 20%
Return to IV: +25.3%
Market implies +7.7%/yr
vs model +15.1% · below model
PHGE
Valuation N/A
BiomX Inc.
Price$0.97
Model IV—
P/IV—
Limited data — see page
PHIO
Valuation N/A
Phio Pharmaceuticals Corp.
Price$1.03
Model IV—
P/IV—
Limited data — see page
PHVS
Valuation N/A
Pharvaris N.V.
Price$38.86
Model IV—
P/IV—
Limited data — see page
PLRX
Valuation N/A
PLIANT THERAPEUTICS, INC.
Price$1.12
Model IV—
P/IV—
Market implies +47.7%/yr
vs model +15.0% · above model
PLUR
Valuation N/A
Pluri Inc.
Price$1.18
Model IV—
P/IV—
Market implies +15.2%/yr
vs model +15.0% · in line