Ipsen SA (IPN) Fair Value & Analysis
Healthcare · FR · Market cap €13.3B · ISIN FR0010259150
What is Ipsen SA really worth?
A solid business, but trading 39% above our fair value of €118.26.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 22 days ago
Share price +3.1% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (€147.83). The favourable scenario is already priced in.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range €73.95 – €171.10 · fair‑value band €88.70 – €147.83 · the €164.70 price screens above the €118.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Ipsen SA (IPN) currently trades at €164.70, while our model-based Fair Value estimate is €118.26, implying the stock looks roughly 39.3% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of €173.61 per share, and 7 of the 26 models we run sit above the €164.70 price. Bear case: the Dividend Discount group reads lowest at €21.85, and 19 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Ipsen SA generated revenue of €3.9B at a net margin of 11.3%. Revenue grew 9.3% year over year. It earns a return on equity of 10.4%. The balance sheet holds a net cash position of €471M. Fundamentals as of Aug 13, 2026
Our scenario range runs from €88.70 (bear case) to €147.83 (bull case); at €164.70, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 5% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at −28%, IPN screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €2.52 per share, which is 2.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models (€173.61) versus Dividend Discount (€21.85). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 72 · Market factors (momentum, volatility) 73
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Ipsen S.A., a biopharmaceutical company, develops and commercializes medicines in the areas of oncology, rare disease, and neuroscience in North America, Europe, and internationally.
Full company description
Ipsen S.A., a biopharmaceutical company, develops and commercializes medicines in the areas of oncology, rare disease, and neuroscience in North America, Europe, and internationally. It engages in the development of Somatuline for neuroendocrine tumors and acromegaly indications; and Dysport for motor muscular disorders and medical aesthetics indications; and Decapeptyl for advanced metastatic prostate cancer, uterine fibroids, central precocious puberty, endometriosis, female infertility, and early-stage breast cancer in combination with hormone therapy. The company also develops Cabometyx for renal cell carcinoma, second line hepatocellular carcinoma, differentiated thyroid cancer, and neuroendocrine tumors; Onivyde for second-line metastatic pancreatic cancer; and Bylvay for the treatment of progressive familial intrahepatic cholestasis and cholestatic pruritus in patients with both PFIC and Alagille syndrome. In addition, it is involved in the development of Iqirvo for the second line treatment for primary biliary cholangitis; Sohonos for the treatment to reduce new, abnormal bone formation in soft and connective tissues, in people living with ultra-rare bone disease, and fibrodysplasia ossificans progressiva; and IPN60340 in Phase I/II clinical trial for first line acute myeloid leukemia indications. Further, the company develops Tazverik + rituximab and lenalidomide in Phase III clinical trials for second line follicular lymphoma indications; Tovorafenib in Phase III clinical trials for first line pediatric low-grade gliomas indications; and IPN01194, IPN01195, IPN60300, and IPN01203 in Phase I for solid tumors indications; and IPN10200 in Phase II clinical trials for aesthetic and therapeutic indications. Ipsen S.A. was founded in 1929 and is headquartered in Paris, France.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Ipsen SA reported revenue of €3.7B in FY2025 versus €2.7B in FY2021, a compound +7.5%/yr. Reported net income was €445M in FY2025, compounding −8.9%/yr from FY2021.
of which total revenue +9.9 % · buybacks/dilution −0.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
IPN screens 39% overvalued. Compare with Merck KGaA →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Ipsen (ENXTPA:IPN) Stock Could Be 45% Below Fair Value Despite Kartos Deal
- IPSEN - Buy-back programme - Art 5 of MAR - Week 33 - 2026
- IPSEN - Buy-back programme - Art 5 of MAR - Week 32 - 2026
- IPSEN - Buy-back programme - Art 5 of MAR - Week 31 - 2026
Peer Group
Drug Manufacturers - Specialty & Generic · 608 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Merck KGaA MRK | €140.25 | €106.48 | −24% |
| Takeda Pharmaceutical Company TAK | $18.03 | $11.11 | −38% |
| Jiangsu Hengrui Pharmaceuticals Co 600276 | ¥53.76 | ¥25.94 | −52% |
| Sun Pharmaceutical Industries Limited SUNPHARMA | ₹1,944 | ₹989.50 | −49% |
| Galderma Group GALD | CHF 178.55 | CHF 55.07 | −69% |
| Haleon plc HLN | $10.11 | $7.64 | −24% |
| Teva Pharmaceutical Industries Limited TEVA | $36.05 | $15.33 | −57% |
| Sandoz Group SDZ | CHF 70.66 | CHF 39.21 | −45% |
| Zoetis Inc ZTS | $77.10 | $104.88 | +36% |
| Hansoh Pharmaceutical Group 3692 | HK$35.12 | HK$16.18 | −54% |
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