NTG (Buy, TP: DKK375.00) -
Idiosyncratic growth story unfoldingOur Q4e EBIT is c4% above consensus, and we expect NTG to meet its 2024 guidance. Market conditions in 2025 will likely remain subdued, but should be offset by market share gains and gross margin recovery, while the integration and EBIT contribution from the 2024 M&A spree offer a unique earnings growth story. We reiterate our BUY, but have cut our target price to DKK375 (385).
NeuroSearch is a biopharmaceutical company focused on the discovery, development and commercialization of new drugs targeting disease areas for which the existing treatment options are insufficient. Co. develops drugs which can improve the quality of life of patients and their relatives through the modulation of ion channels and monoamine systems in the brain.Co.'s work is primarily focused on disorders in the central nervous system (CNS). CNS diseases involve the fields of psychiatry and neurology. Among other things, Co. is working to find new drugs for the treatment of depression, Huntington's disease, ADHD, anxiety, psychoses, Alzheimer's disease, pain, Parkinson's disease and epilepsy.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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