CLINUVEL PHARMACEUTICALS LIMITED (CUV)
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CUV

CUV - CLINUVEL PHARMACEUTICALS LIMITED

FNArena Sector : Pharmaceuticals & Biotech/Lifesciences
Year End: June
GICS Industry Group : Pharmaceuticals, Biotechnology & Life Sciences
Debt/EBITDA: 0.01
Index: ASX300 | ALL-ORDS

Clinuvel is a biopharmaceutical company that develops and commercialises treatments for patients with genetic, metabolic and life threatening disorders. The company was founded and listed in 2001.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$10.80

15 Sep
2025

0.200

OPEN

$10.46

1.89%

HIGH

$10.94

142,627

LOW

$10.42

TARGET
$18.533 71.6% upside
Franking for last dividend paid out: 100%
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FNARENA'S MARKET CONSENSUS FORECASTS
CUV: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 72.2 69.8 xxx
DPS (cps) xxx 5.0 5.5 xxx
EPS Growth xxx 1.0% - 3.4% xxx
DPS Growth xxx 0.0% 10.0% xxx
PE Ratio xxx N/A 16.1 xxx
Dividend Yield xxx N/A 0.5% xxx
Div Pay Ratio(%) xxx 6.9% 7.9% xxx

Dividend yield today if purchased 3 years ago: 0.23%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.44

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 05/09 - ex-div 5c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx72.2
DPS All xxxxxxxxxxxxxxx5.0
Sales/Revenue xxxxxxxxxxxxxxx95.0 M
Book Value Per Share xxxxxxxxxxxxxxx480.4
Net Operating Cash Flow xxxxxxxxxxxxxxx41.1 M
Net Profit Margin xxxxxxxxxxxxxxx38.07 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx16.30 %
Return on Invested Capital xxxxxxxxxxxxxxx16.28 %
Return on Assets xxxxxxxxxxxxxxx14.33 %
Return on Equity xxxxxxxxxxxxxxx16.30 %
Return on Total Capital xxxxxxxxxxxxxxx18.56 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx38.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx0 M
Total Debt xxxxxxxxxxxxxxx1 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx224 M
Price To Book Value xxxxxxxxxxxxxxx2.16

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx0.3 M
Capex % of Sales xxxxxxxxxxxxxxx0.31 %
Cost of Goods Sold xxxxxxxxxxxxxxx33 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx21 M
Research & Development xxxxxxxxxxxxxxx7 M
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.7

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

29/08/2025

3

Downgrade to Hold from Speculative Buy

$14.00

29.63%

Morgans downgrades Clinuvel Pharmaceuticals to Hold from Speculative Buy and cuts the target price to $14 from $15 post a slight miss of FY25 results.

Commentary posits the company has also been unable to switch the narrative around capital management and disclosures, which places a cap on any upside. Overall, the result is labelled a miss and disappointing.

The analyst views the report as "uninspiring" with "pedestrian" commercial sales growth of 6.4% against the global growth in patient numbers and doses, along with US accredited centres at 104 from 85 a year ago.

Positively, the cash pile continued to grow at $224.1m from $198m in 1H25, with the buyback set at only $250k and no increase in dividend.

The report also highlights the lack of action on capital management and reliance on deposit yields rather than returns on shareholder investment.

Interest income now represents around 18.6% of profits.

FORECAST
Morgans forecasts a full year FY26 dividend of 6.00 cents and EPS of 74.00 cents.
Morgans forecasts a full year FY27 dividend of 8.00 cents and EPS of 78.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxxxxxxxxx xx xxxxxxxx xxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Moelis

04/09/2025

1

Buy

$23.13

114.17%

Clinuvel Pharmaceuticals' FY25 revenue missed Moelis' forecasts due to revenue timing, with some FY25 orders deferred to FY26.

The broker notes Europe and the US were the growth drivers, with more patients treated and more implants per centre. Costs, however, rose sharply on Vitiligo trial investment and higher personnel costs.

The broker sees the business as adequately resourced and wage growth to normalise from here.

FY26 net profit forecast lowered by -5.5% and FY27 by -10.5%, reflecting softer FY25 base and more moderate volume growth. Long-term growth assumptions are unchanged.

Buy. Target price $23.13.

FORECAST
Moelis forecasts a full year FY26 dividend of 5.50 cents and EPS of 81.30 cents.
Moelis forecasts a full year FY27 dividend of 5.80 cents and EPS of 87.60 cents.
Access Extra Coverage Research History >

CUV STOCK CHART

FNArena News on CUV

1
Australian Broker Call *Extra* Edition – Sep 08, 2025

Sep 08 2025 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Sep 04, 2025

Sep 04 2025 - Daily Market Reports
3
Weekly Ratings, Targets, Forecast Changes – 29-08-25

Sep 01 2025 - Weekly Reports
4
FNArena Corporate Results Monitor – 29-08-2025

Aug 29 2025 - Australia
5
The Enigma Surrounding Clinuvel

Jul 03 2025 - Small Caps

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