Heidelberg Pharma AG (HPHA) AI Stock Analysis

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Heidelberg Pharma AG

(XETRA:HPHA)

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Rating:41Neutral

Price Target:EUR 2.00▼(-3.85% Downside)

Action:reiterated

Date:10/17/26

The score is primarily constrained by persistent losses, negative shareholders' equity, and ongoing cash burn. Weak technical momentum and a negative P/E ratio provide additional downside concerns, while improving revenue and gross margin offer limited support.

Positive Factors

Revenue GrowthRecent revenue growth indicates that the company is generating greater commercial or partnered-program activity than in the prior period. If this expansion continues, it could provide a broader base over which to spread research and operating costs and support eventual progress toward profitability.

Negative Factors

Deep and Recurring LossesSevere and recurring losses show that current revenue is not yet sufficient to support the company’s research and operating structure. Unless revenue scales materially or costs are reduced, continued losses can weaken financial flexibility and delay the point at which the business becomes self-funding.

Heidelberg Pharma AG (HPHA) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 97.78M
Dividend Yield: ―
Average Volume (3M): 3,798
Price to Earnings (P/E): -3.3
Beta (1Y): 0.78
Revenue Growth: 206.78%
EPS Growth: -13.94%
Country: Germany
Employees: 33
Sector: General
Sector Strength: 55
Industry: Biotechnology

Heidelberg Pharma AG Business Overview & Revenue Model

Company Description

Heidelberg Pharma AG is a biopharmaceutical firm dedicated to oncology, with a specific emphasis on its innovative antibody-targeted amanitin conjugates (ATAC) technology. The company conducts its activities across Germany, various other European cou...

Heidelberg Pharma AG Financial Statement Overview

Summary

Revenue and gross margin improved, but deep net losses, negative equity, and approximately €19.1 million of negative operating and free cash flow indicate severe financial weakness.

Income Statement

25Negative

Balance Sheet

15Very Negative

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Feb 2026	Feb 2025	Feb 2024	Feb 2023	Feb 2022
Income Statement
Total Revenue	9.32M	1.46M	6.85M	9.86M	18.51M	2.90M
Gross Profit	7.41M	-1.19M	5.07M	6.61M	13.83M	-1.81M
EBITDA	-26.50M	-44.63M	-14.48M	-18.71M	-16.19M	-24.35M
Net Income	-29.90M	-42.28M	-19.38M	-20.35M	-19.70M	-26.14M
Balance Sheet
Total Assets	42.82M	38.14M	60.72M	70.35M	100.58M	21.73M
Cash, Cash Equivalents and Short-Term Investments	19.84M	14.98M	29.42M	43.44M	81.33M	6.14M
Total Debt	298.96K	1.16M	21.97M	5.83M	15.98M	10.63M
Total Liabilities	62.14M	49.05M	29.85M	21.01M	33.94M	15.03M
Stockholders Equity	-19.32M	-10.92M	30.87M	49.34M	66.64M	6.70M
Cash Flow
Free Cash Flow	-19.11M	-31.73M	-30.04M	-34.63M	-9.48M	-28.00M
Operating Cash Flow	-19.14M	-31.60M	-29.59M	-33.67M	-8.86M	-26.61M
Investing Cash Flow	726.19K	-135.05K	-449.13K	5.85M	-597.57K	-1.40M
Financing Cash Flow	16.56M	18.35M	16.08M	-10.05M	84.00M	29.17M

Heidelberg Pharma AG Technical Analysis

Technical Analysis SentimentNegative

Last Price2.08

Price Trends

50DMA2.36Negative

100DMA2.47Negative

200DMA2.66Negative

Market Momentum

MACD-0.08Negative

RSI36.78Neutral

STOCH47.15Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:HPHA, the sentiment is Negative. The current price of 2.08 is below the 20-day moving average (MA) of 2.18, below the 50-day MA of 2.36, and below the 200-day MA of 2.66, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 36.78 is Neutral, neither overbought nor oversold. The STOCH value of 47.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:HPHA.

Heidelberg Pharma AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:HPHA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:FYB	52Neutral	EUR 332.96M	-13.38	-6.41%	―	18.28%	85.20%
DE:BNN	44Neutral	EUR 57.90M	-4.06	590.52%	―	―	―
DE:HPHA	41Neutral	EUR 97.78M	-3.25	200.64%	―	206.78%	-13.94%

* General Sector Average

Performance Comparison

DE:HPHA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:HPHA	Heidelberg Pharma AG	2.08	-0.88	-29.73%
DE:BNN	B.R.A.I.N. Biotechnology Research and Information Network	2.68	0.40	17.54%
DE:CNW	co.don AG	0.01	-0.01	-40.00%
DE:MDG1	Medigene AG	0.01	-0.04	-80.00%
DE:FYB	Formycon AG	19.00	-1.00	-5.00%

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.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower 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.

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.

Date of analysis: Oct 17, 2026

Heidelberg Pharma AG AI Stock Analysis