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Enorama Pharma AB
(ERMA)
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Rating:47Neutral
Price Target:
kr0.84
▼(-56.18% Downside)
Action:Reiterated
Date:09/06/26
The score is primarily constrained by very weak financial performance (persistent losses, negative equity, and ongoing cash burn). Technicals are mixed but somewhat stabilizing (neutral RSI and positive MACD), providing limited offset. Valuation remains challenged due to unprofitability (negative P/E) and no dividend support.
Positive Factors
Low Debt Burden
Effectively zero debt limits interest obligations and reduces refinancing pressure, giving the company more flexibility than a similarly loss-making business with high leverage. This balance-sheet feature can help preserve strategic options while management pursues product development and commercialization.
Negative Factors
Persistent Operating Losses
Persistent operating and net losses show that the current business is not covering its cost base through revenue. Without a sustained improvement in gross profit and operating efficiency, ongoing losses can consume capital, constrain investment, and make successful product scaling financially difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Debt Burden
Effectively zero debt limits interest obligations and reduces refinancing pressure, giving the company more flexibility than a similarly loss-making business with high leverage. This balance-sheet feature can help preserve strategic options while management pursues product development and commercialization.
Read all positive factors
Enorama Pharma AB (ERMA) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr63.40M
Dividend YieldN/A
Average Volume (3M)344.07K
Price to Earnings (P/E)―
Beta (1Y)0.60
Revenue Growth-87.19%
EPS Growth29.58%
CountrySE
Employees4
SectorGeneral
Sector StrengthN/A
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)-0.81
Shares Outstanding74,588,684
10 Day Avg. Volume114,800
30 Day Avg. Volume344,066
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)-5.66
Price to Sales (P/S)48.45
P/FCF Ratio-2.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Enorama Pharma AB Business Overview & Revenue Model
Company Description
Enorama Pharma AB (publ), a pharmaceutical company, develops, manufactures, and sells medicated chewing gum in Sweden. It offers nicotine chewing gum and nicotine pouches under the NIC-S brand name. The company was incorporated in 2006 and is base...
How the Company Makes Money
Enorama Pharma AB’s primary monetization approach is to develop NRT product candidates (notably nicotine chewing gum) and seek to commercialize them through partnerships and/or licensing arrangements with established pharmaceutical or consumer-hea...
Enorama Pharma AB Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.45M | 2.74M | 15.77M | 1.36M | 6.85M | 11.04M |
| Gross Profit | -42.79M | -61.78M | 3.70M | -3.90M | -616.00K | 2.13M |
| EBITDA | -54.13M | -61.65M | -20.41M | -43.05M | -37.22M | -26.28M |
| Net Income | -59.68M | -75.14M | -43.81M | -44.61M | -41.78M | -28.54M |
Balance Sheet | ||||||
| Total Assets | 6.95M | 8.26M | 15.89M | 34.38M | 48.72M | 50.93M |
| Cash, Cash Equivalents and Short-Term Investments | 2.10M | 3.04M | 2.08M | 6.15M | 4.14M | 12.20M |
| Total Debt | 0.00 | 0.00 | 0.00 | 436.00K | 1.91M | 3.79M |
| Total Liabilities | 57.39M | 31.71M | 8.09M | 14.85M | 17.20M | 29.58M |
| Stockholders Equity | -50.44M | -23.45M | 7.80M | 19.54M | 31.52M | 21.35M |
Cash Flow | ||||||
| Free Cash Flow | -53.05M | -59.26M | -35.70M | -41.35M | -32.96M | -31.99M |
| Operating Cash Flow | -53.05M | -59.26M | -35.70M | -41.35M | -32.96M | -30.16M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -1.82M |
| Financing Cash Flow | 51.67M | 50.69M | 35.29M | 41.86M | 25.34M | 39.51M |
Enorama Pharma AB Technical Analysis
Neutral
1.91
Price Trends
0.50
Positive
0.41
Positive
0.88
Negative
Market Momentum
0.07
Positive
51.77
Neutral
14.75
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:ERMA, the sentiment is Neutral. The current price of 1.91 is above the 20-day moving average (MA) of 0.79, above the 50-day MA of 0.50, and above the 200-day MA of 0.88, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 51.77 is Neutral, neither overbought nor oversold. The STOCH value of 14.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:ERMA.
Enorama Pharma AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | kr665.87M | -2.16 | ― | ― | 87.23% | 35.27% | |
47 Neutral | kr63.40M | -0.89 | ― | ― | -87.19% | 29.58% | |
46 Neutral | kr513.35M | -1.56 | -136.72% | ― | -76.75% | -42.26% | |
46 Neutral | kr509.74M | -11.60 | ― | ― | 3.26% | 16.82% |
* General Sector Average
SE:ERMA
Enorama Pharma AB
0.77
-1.89
-70.90%
SE:ORX
Orexo AB
13.30
-11.50
-46.37%
SE:ONCO
Oncopeptides AB
1.66
-3.51
-67.81%
SE:ENZY
Enzymatica AB
2.15
-0.22
-9.28%
SE:DICOT
Dicot Pharma AB
0.24
-0.57
-70.27%
SE:CINPHA
Cinclus Pharma Holding AB
12.60
-2.22
-14.98%
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.