Mineralys Therapeutics, Inc.

NasdaqGS:MLYS Stock Report

Market Cap: US$3.3b

Mineralys Therapeutics Valuation

Is MLYS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MLYS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$80.25
Fair Value
45.7% undervalued intrinsic discount
8
Number of Analysts

Below Fair Value: MLYS ($43.56) is trading below our estimate of fair value ($80.25)

Significantly Below Fair Value: MLYS is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MLYS?

Key metric: As MLYS is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for MLYS. This is calculated by dividing MLYS's market cap by their current book value.
What is MLYS's PB Ratio?
PB Ratio10.8x
BookUS$313.55m
Market CapUS$3.33b

Price to Book Ratio vs Peers

How does MLYS's PB Ratio compare to its peers?

The above table shows the PB ratio for MLYS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average10.1x
APGE Apogee Therapeutics
5.8x-16.45%US$3.5b
RARE Ultragenyx Pharmaceutical
20.8x61.15%US$3.3b
CNTA Centessa Pharmaceuticals
8.9x23.92%US$3.1b
IMVT Immunovant
5x32.80%US$3.0b
MLYS Mineralys Therapeutics
10.8x36.98%US$3.3b

Price-To-Book vs Peers: MLYS is expensive based on its Price-To-Book Ratio (10.8x) compared to the peer average (10.1x).

Price to Book Ratio vs Industry

How does MLYS's PB Ratio compare vs other companies in the US Biotechs Industry?

54 CompaniesPrice / BookEstimated GrowthMarket Cap
NKTX Nkarta
0.5x1.69%US$176.85m
ZNTL Zentalis Pharmaceuticals
0.4x13.87%US$112.53m
XBIT XBiotech
0.4xn/aUS$75.91m
ACRV Acrivon Therapeutics
0.4x-8.67%US$58.82m
MLYS 10.8xIndustry Avg. 2.5xNo. of Companies73PB0246810+
54 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: MLYS is expensive based on its Price-To-Book Ratio (10.8x) compared to the US Biotechs industry average (2.5x).

Price to Book Ratio vs Fair Ratio

What is MLYS's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MLYS PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio10.8x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MLYS's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MLYS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$43.56
US$43.75
+0.44%
17.06%US$52.00US$26.00n/a8
Oct ’26US$39.81
US$43.75
+9.90%
17.06%US$52.00US$26.00n/a8
Sep ’26US$15.48
US$36.88
+138.21%
29.16%US$48.00US$15.00n/a8
Aug ’26US$13.67
US$36.25
+165.28%
29.02%US$48.00US$15.00n/a8
Jul ’26US$13.70
US$36.25
+164.60%
29.02%US$48.00US$15.00n/a8
Jun ’26US$15.58
US$39.29
+152.15%
18.49%US$48.00US$26.00n/a7
May ’26US$14.96
US$40.00
+167.38%
19.78%US$52.00US$26.00n/a7
Apr ’26US$13.84
US$38.29
+176.63%
22.37%US$52.00US$26.00n/a7
Mar ’26US$9.14
US$32.00
+250.11%
19.69%US$45.00US$24.00n/a7
Feb ’26US$10.30
US$32.57
+216.23%
17.51%US$45.00US$26.00n/a7
Jan ’26US$12.31
US$32.57
+164.59%
17.51%US$45.00US$26.00n/a7
Dec ’25US$12.77
US$32.57
+155.06%
17.51%US$45.00US$26.00n/a7
Nov ’25US$13.45
US$33.00
+145.35%
17.29%US$45.00US$26.00n/a7
Oct ’25US$12.28
US$33.00
+168.73%
17.29%US$45.00US$26.00US$39.817
Sep ’25US$12.41
US$33.00
+165.91%
17.29%US$45.00US$26.00US$15.487
Aug ’25US$12.05
US$33.00
+173.86%
17.29%US$45.00US$26.00US$13.677
Jul ’25US$12.17
US$33.50
+175.27%
17.97%US$45.00US$26.00US$13.706
Jun ’25US$12.77
US$33.50
+162.33%
17.97%US$45.00US$26.00US$15.586
May ’25US$12.80
US$33.83
+164.32%
16.84%US$45.00US$27.00US$14.966
Apr ’25US$13.03
US$34.60
+165.54%
17.21%US$45.00US$27.00US$13.845
Mar ’25US$15.34
US$35.00
+128.16%
18.84%US$45.00US$27.00US$9.144
Feb ’25US$12.70
US$35.00
+175.59%
18.84%US$45.00US$27.00US$10.304
Jan ’25US$8.60
US$35.00
+306.98%
18.84%US$45.00US$27.00US$12.314
Dec ’24US$7.20
US$35.00
+386.11%
18.84%US$45.00US$27.00US$12.774
Nov ’24US$7.75
US$35.00
+351.61%
18.84%US$45.00US$27.00US$13.454
Oct ’24US$9.51
US$35.75
+275.92%
19.11%US$45.00US$27.00US$12.284
US$43.75
Fair Value
0.4% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/17 23:18
End of Day Share Price 2025/10/17 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Mineralys Therapeutics, Inc. is covered by 9 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Chen YangBofA Global Research
Timothy AndersonBofA Global Research
Umer RaffatEvercore ISI