Khadija Saeed

January 24, 2026, 4:07 PM EST. Zealand Pharma's shares have fallen 45% over the past year, despite positive 3- and 5-year returns. The stock trades at DKK426 versus a fair value estimate near DKK746, highlighting a substantial valuation gap. The company's alliance with Roche to commercialize petrelintide aims to capitalize on the growing obesity and metabolic disorders market, potentially driving long-term growth. However, the promising outlook depends heavily on clinical trial success and partnership milestones. Investors face a complex risk-reward scenario, with aggressive revenue and earnings expectations built into current valuations. Analysts suggest carefully reviewing the narrative assumptions and key risks before adjusting positions or exploring other healthcare stocks.