Seems like a few healthcare stocks going on a move of late and the market finally waking up to how undervalued PIQ is compared to peers.
RHY - mkt cap ~$140m, large potential market but still a few years away (1-2 years?) from test hitting the mkt, no pipeline mentioned in AGM Preso.
RENX/RNLX - mkt cap ~A$700m, smaller target market than PIQ (going after late stage DKD), no commercial sales, no CE Mark, no pipeline mentioned in company presos.
PIQ - mkt cap $58m - large target market, test is CE Mark approved, initial licence deals executed, first sales in in CY21, broad/deep pipeline of other diagnostic tests.
Plus other mkt caps in peer group table below:
If PIQ has a market cap of $140m, like RHY, share price will be $1.33
If PIQ has a market cap of the ave of some of its peers below, say $250m, share price will be $2.38
I'll leave everyone to do their own calcs for what the SP would be if they get to RENX's mkt cap....
This is spot on, this was before the announcement of an FDA application. IMO it's not unreasonable for a fair valuation of $250-300M ($2.5-$3) market cap right now. And if the FDA approval comes through, this is a willy wonka golden ticket and should come with a re-rating, it's not unreasonable to expect a $500-600M market cap, or about $6-7 per share. Then, it would be a matter of the up take and commercial rollout/update, in which there is infinite upside. And this is just for PromarkerD. We still have so much other R & D in the pipeline. My favorite is the endo test. A endometriosis test would be a game changer, currently there is no known test other than invasive surgery. All IMO. GLTAH.
PIQ Price at posting:
$1.34 Sentiment: Buy Disclosure: Held
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