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Vicore Pharma Holding AB
(VICO)
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Rating:55Neutral
Price Target:
kr13.00
▲(17.33% Upside)
Action:Reiterated
Date:07/13/26
The score is held back primarily by very weak operating results and substantial ongoing cash burn despite a strong, low-debt balance sheet. Technicals are moderately supportive with the stock trading above key moving averages and neutral momentum indicators, but valuation remains pressured by negative earnings and no stated dividend yield.
Positive Factors
Low leverage / strong balance sheet
Minimal debt and a sizable equity base materially reduce financial risk and interest burden, giving management flexibility to fund clinical programs, pursue partnerships, and withstand financing cycles without immediate solvency pressure. This durability supports program continuity over months.
Negative Factors
Very small and declining revenue base
Negligible and falling revenues leave the company reliant on external financing and clinical milestones rather than operating cash flow. Over a multi-month horizon this constrains reinvestment capacity and heightens execution risk if capital markets tighten or fundraising terms deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Minimal debt and a sizable equity base materially reduce financial risk and interest burden, giving management flexibility to fund clinical programs, pursue partnerships, and withstand financing cycles without immediate solvency pressure. This durability supports program continuity over months.
Read all positive factors
Vicore Pharma Holding AB (VICO) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr3.20B
Dividend YieldN/A
Average Volume (3M)520.11K
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue Growth-41.17%
EPS Growth-0.30%
CountrySE
Employees40
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.90
Shares Outstanding281,525,600
10 Day Avg. Volume692,423
30 Day Avg. Volume520,111
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)2.47
Price to Sales (P/S)710.16
P/FCF Ratio-7.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
kr35.50Price Target Upside220.40% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.79
Revenue Forecast (FY)kr1.10M
Vicore Pharma Holding AB Business Overview & Revenue Model
Company Description
Vicore Pharma Holding AB (publ), a Gothenburg, Sweden-based company, specializes in the discovery and advancement of therapies for rare lung conditions. Its core pipeline features VP01, an orally administered small molecule currently in Phase II c...
How the Company Makes Money
null...
Vicore Pharma Holding AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.53M | 3.82M | 109.35M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 2.77M | 3.82M | 109.35M | -3.42M | -3.61M | -3.60M |
| EBITDA | -492.82M | -477.41M | -166.64M | -317.47M | -286.20M | -289.82M |
| Net Income | -474.56M | -477.47M | -168.63M | -310.94M | -288.42M | -296.48M |
Balance Sheet | ||||||
| Total Assets | 1.08B | 1.22B | 1.20B | 497.84M | 338.01M | 451.17M |
| Cash, Cash Equivalents and Short-Term Investments | 1.06B | 1.17B | 1.16B | 482.66M | 261.74M | 371.20M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 65.00K | 320.00K |
| Total Liabilities | 86.35M | 124.16M | 73.78M | 42.45M | 48.92M | 67.85M |
| Stockholders Equity | 990.91M | 1.10B | 1.13B | 455.39M | 289.08M | 383.32M |
Cash Flow | ||||||
| Free Cash Flow | -405.96M | -375.74M | -164.95M | -448.62M | -302.92M | -265.17M |
| Operating Cash Flow | -405.96M | -374.44M | -164.95M | -249.58M | -299.92M | -265.17M |
| Investing Cash Flow | -356.63M | -601.81M | 149.04M | -144.46M | 74.00M | -7.00M |
| Financing Cash Flow | 430.54M | 430.54M | 834.06M | 470.86M | 187.04M | 318.18M |
Vicore Pharma Holding AB Technical Analysis
Neutral
11.08
Price Trends
11.65
Negative
10.87
Positive
10.95
Positive
Market Momentum
0.09
Positive
43.92
Neutral
2.73
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VICO, the sentiment is Neutral. The current price of 11.08 is below the 20-day moving average (MA) of 12.50, below the 50-day MA of 11.65, and above the 200-day MA of 10.95, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 43.92 is Neutral, neither overbought nor oversold. The STOCH value of 2.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:VICO.
Vicore Pharma Holding AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | kr518.21M | 2.83 | 81.19% | ― | ― | ― | |
56 Neutral | kr1.05B | -9.20 | -58.41% | ― | ― | -12.27% | |
55 Neutral | kr3.20B | -5.98 | -49.96% | ― | -41.17% | -0.30% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | kr3.29B | -4.13 | ― | ― | 4.84% | 17.25% | |
44 Neutral | kr1.48B | -4.42 | -47.20% | ― | 258.30% | 28.33% | |
42 Neutral | kr712.20M | -3.58 | -35.03% | ― | ― | 46.92% |
* Healthcare Sector Average
SE:VICO
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Vicore Pharma Holding AB Corporate Events
Vicore Pharma to Join Leerink Therapeutics Forum Amid Progress in IPF Program
Jul 7, 2026
Vicore Pharma will participate in the Leerink Therapeutics Forum, with CEO Ahmed Mousa scheduled for one-on-one meetings at the Boston Harbor Hotel in Boston on July 14, 2026. The engagement underscores the company’s efforts to raise its pro...
Vicore Pharma Bolsters R&D Leadership With New Chief Scientific Officer
Jul 6, 2026
Vicore Pharma has appointed Rob Slack as Chief Scientific Officer, succeeding long-time scientific leader Johan Raud, who will become Senior Advisor. Slack, a veteran of GSK and Galecto, brings over two decades of respiratory and fibrosis drug dis...
Vicore Pharma Begins Trading ADSs on Nasdaq U.S. in Dual-Listing Move
Jul 1, 2026
Vicore Pharma has secured a secondary listing in the United States, with its American Depositary Shares set to begin trading on the Nasdaq Capital Market under the ticker VCRE, each ADS representing ten common shares. The company’s common sh...
Vicore Pharma Schedules Webcast on Buloxibutid and IPF Therapy Outlook
Jun 2, 2026
Vicore Pharma will host a webcast on June 8, 2026, to discuss its lead candidate buloxibutid and the evolving treatment landscape for idiopathic pulmonary fibrosis. The event will feature IPF specialist Dr. Phil Molyneaux and Vicore management, wh...
Vicore Pharma to Spotlight IPF Program at Jefferies Global Healthcare Conference
May 26, 2026
Vicore Pharma will present at the upcoming Jefferies Global Healthcare Conference in New York, where CEO Ahmed Mousa and CMO Bernt van den Blink will participate in a fireside chat and one-on-one meetings with investors. The conference appearance ...
Vicore Pharma Seeks US Dual Listing as Lead IPF Drug Nears Key Readout
May 22, 2026
Vicore Pharma is a Swedish clinical-stage biopharmaceutical company developing angiotensin II type 2 receptor agonists for respiratory and fibrotic diseases, led by buloxibutid for idiopathic pulmonary fibrosis, which has secured Orphan Drug and F...
Vicore Pharma Adds Veteran Pharma Executive Peter Guenter to Board Ahead of Key IPF Milestone
May 7, 2026
Vicore Pharma has appointed veteran pharmaceutical executive Peter Guenter to its Board of Directors as it advances its lead drug candidate buloxibutid toward a key late-stage data readout. Guenter, a former CEO of Merck Healthcare KGaA and Almira...
Vicore Pharma AGM Backs Expanded Capital Authority and New RSU Plan for Board
May 6, 2026
Vicore Pharma’s 2026 Annual General Meeting approved the 2025 financial statements, decided to retain earnings without a dividend, discharged the board and CEO from liability, and re-elected most board members while adding Peter Guenter as a...
Vicore Pharma Publishes Q1 2026 Interim Report
May 6, 2026
Vicore Pharma Holding AB has released its interim report for the first quarter of 2026, covering the period from January 1 to March 31. The report outlines CEO commentary, pipeline status, financial information, sustainability efforts, and key per...
Vicore Pharma to Spotlight Buloxibutid Data at 2026 ATS Meeting
Apr 29, 2026
Vicore Pharma will showcase a series of new clinical and preclinical data on its ATRAG platform at the 2026 American Thoracic Society International Conference in Orlando, highlighting the breadth of its research in idiopathic pulmonary fibrosis an...
Vicore Pharma Hits Early Enrollment Milestone in Key IPF Trial
Apr 22, 2026
Vicore Pharma has completed enrollment of more than 360 patients in its global Phase 2b ASPIRE trial of buloxibutid in idiopathic pulmonary fibrosis, hitting full recruitment earlier than expected across over 100 sites in 14 countries. The 52-week...
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.