Herantis Pharma Oyj (HRTIS.HE)

Herantis Pharma Oyj (HRTIS.HE) — VMCI valuation read

Headline read on HRTIS.HE: VMCI of 31/100 versus a Healthcare sector median of 50. The 19-point below-median position is what makes Herantis Pharma Oyj a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on HRTIS.HE: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on HRTIS.HE: value (HRTIS.HE trades at 17.0x earnings, 6% below the Healthcare median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Healthcare median (10.0%)), and risk (net debt to EBITDA of -1.1x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Healthcare 12.0x baseline.

HRTIS.HE fell 2.4% over the trailing 7 days, with a -19.2% read on a 30-day basis.