NASDAQ: PIRS - Pieris Pharmaceuticals, Inc.

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -21.8
CAGR EPS = 115.49%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 6.89 + (6.89 * 115.49% / 100) = 14.85

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -0.0204
Ebitda Yield = -0.0216
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.0102
Debt = 0.0131
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0131) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = 1.43
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.43 * 5.94 + 0 = 0.1133
WACC = (0.0102 / 0.0131) * (100% - 0) * (1 - 0.21) + 0.1133 + 0 = 61.51
Terminal Value = Discount (-0.0204 * (1 + -0.0216) / (61.51 - -0.0216)) = -0.0029
Company Value = ∑ (-0.0204 / (1 + 61.51) ^ 5) = -0.0321
Price = (Terminal Value + Company Value) / Count shares = (-0.0029 + -0.0321) / 90060000 = -0.3884

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.0533
FCF Yield = -0.0027
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.0102
Debt = 0.0131
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0131) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.82
β = 1.43
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.43 * 5.94 + 0 = 0.1133
WACC = (0.0102 / 0.0131) * (100% - 0) * (1 - 0.21) + 0.1133 + 0 = 61.51
Terminal Value = Discount (-0.0533 * (1 + -0.0027) / (61.51 - -0.0027)) = -0.0078
Company Value = ∑ (-0.0533 / (1 + 61.51) ^ 5) = -0.0793
Price = (Terminal Value + Company Value) / Count shares = (-0.0078 + -0.0793) / 90060000 = -0.9678