RE:Cipher still undervalued at this level PE Ratio: 9.6PE of 16 is usually for blue chip or companies that have less then 15% growth. For a company like Cipher that has a much higher growth rate the PE can be up to 100 or even higher as with many US stocks. The higher the growth rate (so long as it can be sustained for a least a few years) the higher the PE typically is. With Absorbica going mainstream in the US we should see Cipher hit $20 or so once those initial revenues are reflected in earnings.