Vicore Pharma (Buy, TP: SEK91.00) - Entering an eventful period
There were no surprises in the Q2 results, apart from lower R&D costs than forecast, although these tend to fluctuate from quarter to quarter. Hence, we believe Q2 opex is representative for H2e. Vicore confirmed it expects top-line data from the ATTRACT-3 trial in Covid-19 to be presented in Q3, which could potentially act as an important share-price trigger, we believe. We reiterate our BUY but have raised our target price to SEK91 (90).Vicore Pharma Holding AB is a Sweden-based drug-development company. The Company's portfolio contains small molecules with potential indications, including anti-inflammation, nerve generation and cardiovascular disease. The Company is a wholly owned subsidiary of Mintage Scientific AB.
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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