Is CureVac NV overvalued or undervalued?

As of 12 September 2025, the valuation grade for CureVac NV has moved from attractive to very attractive, indicating a significant improvement in its perceived value. The company appears undervalued, supported by a P/E ratio of 5, an EV to EBITDA of 1.90, and a PEG ratio of 0.03, all of which are considerably lower than industry norms. In comparison, PTC Therapeutics, Inc. has a P/E of 5.85 and an EV to EBITDA of 3.17, while Harmony Biosciences Holdings, Inc. shows a P/E of 11.40, highlighting CureVac's relative valuation advantage.
Despite recent underperformance over shorter time frames, with a 1-week return of -0.74% compared to the S&P 500's 1.05%, CureVac has outperformed the index year-to-date with a return of 56.89% versus 12.22% for the S&P 500. This suggests that while the stock may be experiencing volatility, its long-term potential remains strong, reinforcing the view that it is currently undervalued.