Raising Our Sobi FVE Following Impressive 1Q; Shares Remain Overvalued as Competitive Threats Loom
Swedish Orphan Biovitrum reported top- and bottom-line results for the first quarter that were ahead of our expectations, with 41% revenue growth and 90% EBITA growth over the same quarter last year. After raising our near-term sales estimates for the firm’s hemophilia franchise and giving Sobi more credit for near-term operating leverage, we’re raising our fair value estimate to SEK 124 per share from 99. Even with these changes, we struggle to approach recent trading prices, which we believe a...Swedish Orphan Biovitrum AB is a healthcare company focused on rare diseases. Co. develops, manufactures and commercializes treatments with a particular focus on four therapeutic areas: Inflammation, Genetics & Metabolism, Haemophilia and Neonatology. Co. also markets a portfolio of rare disease products for partner companies. Co.'s pipeline programmes include research and development focused on recombinant protein drugs in late preclinical and clinical phase for indications.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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