ZURA
Zura Bio Limited
$5.35
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Fair Value
Trading 0.0% below fair value
You pay
$5.35
Bear
$4.59
Fair
$5.35
Bull
$6.12
Bear
$4.59
-14.3%
$0.21 × 12x P/E
Fair
$5.35
+0.0%
$0.21 × 14x P/E
Bull
$6.12
+14.3%
$0.21 × 16x P/E
Key Value Driver
Normalized P/E multiple (14x base case)
Implied Market Multiple
25.5x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $15.00 from 7 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $5.35 per share.
Warnings
Wall Street's average price target is $15.00 (from 7 analysts). Our estimate is 80% below the consensus -- consider that gap carefully.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples