CSL (ASX:CSL) Following ANDEMBRY Trial Results Still Looks Cheap Against Fair Value
CSL (ASX:CSL) has drawn fresh attention after reporting positive top-line Phase 3b results for its hereditary angioedema therapy ANDEMBRY in children aged 2 to 11 years, supporting potential expanded pediatric use.
See our latest analysis for CSL.
The ANDEMBRY update comes as CSL trades at A$123.06, with a 7 day share price return of 7.74% and a year to date share price decline of 28.44%. The 1 year total shareholder return is down 52.25%, pointing to weak long term momentum despite a recent short term lift.
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CSL has bounced on the ANDEMBRY update, yet the share price is still well below where it sat a year ago. Is the recent move a small step in a longer rerating, or has most of the easy upside already passed?
Most Popular Narrative: 20.6% Undervalued
On the latest data, CSL trades at A$123.06 against a narrative fair value of A$155. According to Kouj, that gap reflects short term noise rather than a broken business.
CSL is cheap by almost every measure. The market is currently paying 18.7x earnings for a business that has historically traded at 28 to 30x and sits in a sector where its peers average 36x. That gap exists because FY2026 earnings are distorted by one-off restructuring charges not because the underlying business has deteriorated.
Want the full story on why this fair value sits well above today’s CSL share price? The narrative leans on earnings recovery, margin rebuilding and a stronger profit base to support that number.
Result: Fair Value of A$155 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, you still need to watch for two pressure points that could unsettle the CSL story: tougher competition in nephrology at Vifor and any stumble in the restructuring program.
Find out about the key risks to this CSL narrative.
Next Steps
Given the mix of optimism and concern around CSL right now, it makes sense to check the numbers yourself and decide quickly where you stand. To see how the current positives compare with the main watchpoints, review the 2 key rewards and 4 important warning signs.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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