Is Clinuvel's share buyback price goal just $15?

I have been re-listening to Philippe Wolgens March 13, 2024 buyback announcement video. Perhaps some of our expectations were too high. I am convinced that Clinuvel's goal for the buyback is merely to raise the P/E from approximately 18 on around March 14 to where we are today which is a P/E of around 26. That is why during the buyback the share price seems to fluctuate from a peak of around $15.50 and then falls back to around $15.00----a price which coincides with a P/E of around 26.

In the video the CEO says what appears to be:

"... we believe that the market valuation lies far below the median scene in biopharmaceuticals in profitable biopharmaceuticals of 26 and Clinuvel trading at about 18 we believe that this on market re-purchase program is timely adequate and appropriate."

Link: relevant time 2:32 minute onward