reports
Transactions in Connection with Share Buy-back Program
Transactions in Connection with Share Buy-back Program Company Announcement COPENHAGEN, Denmark; May 13, 2024 – Genmab A/S (Nasdaq: GMAB). On March 15, 2024, Genmab announced the initiation of a share buy-back program to repurchase up to DKK 3.5 billion worth of shares.The share buy-back program is expected to be completed no later than December 16, 2024. The following transactions were executed under the program from May 6, 2024 to May 10, 2024: Trading PlatformNo. of sharesAverage price (DKK)Total value (DKK)Accumulated through last announcement 689,510 1,393,154,997.08May 6, 2...
- Simen Mortensen
Veidekke (Buy, TP: NOK125.00) - Low-season beat, and raised EPS
Veidekke avoided the usual Q1 seasonal loss, reporting EBIT of zero, beating our estimate and Infront consensus. Order intake was also strong, and broadly in line with expectations. Following the results, we have increased our 2024–2026e revenue by c2% and EBIT by c3.5–4%, but raised our EPS by c8–9% after also increasing our financial income estimates. In turn, we have raised our target price to NOK125 (120), and upgraded Veidekke to BUY (HOLD).
- ABGSC Construct. & Real Estate Research
- Bengt Jonassen
- Njål Kleiven
- Rune Majlund Dahl
Lundbeck (Buy, TP: DKK44.00) - Strategic brands off to a good start
We forecast Q1 revenues of DKK5,209m, c0.8% above consensus, driven by strategic brands, for which we forecast 15.0% revenue growth YOY, and an adj. EBITDA margin of 30.3% (consensus 29.7%). We expect unchanged 2024 guidance in constant exchange rate (CER) terms, but believe Lundbeck will revise its guidance for reported figures due to FX. We reiterate our BUY and DKK44 target price.
- ABGSC Construct. & Real Estate Research
- Bengt Jonassen
- Njål Kleiven
Capital Increase in Genmab as a Result of Employee Warrant Exercise
Capital Increase in Genmab as a Result of Employee Warrant Exercise Company Announcement COPENHAGEN, Denmark; May 7, 2024 – (Nasdaq: GMAB) will increase its share capital by 6,959 shares as a consequence of the exercise of employee warrants. The increase is effected without any preemption rights for the existing shareholders of the company or others. The shares are subscribed in cash at the following price per share of nominally DKK 1: 2,171 shares at DKK 1,025.00,2,790 shares at DKK 1,032.00,98 shares at DKK 1,161.00,729 shares at DKK 1,334.50,343 shares at DKK 1,362....
Transactions in Connection with Share Buy-back Program
Transactions in Connection with Share Buy-back Program Company Announcement COPENHAGEN, Denmark; May 6, 2024 – Genmab A/S (Nasdaq: GMAB). On March 15, 2024, Genmab announced the initiation of a share buy-back program to repurchase up to DKK 3.5 billion worth of shares. The share buy-back program is expected to be completed no later than December 16, 2024. The following transactions were executed under the program from April 29, 2024 to May 3, 2024: Trading PlatformNo. of sharesAverage price (DKK)Total value (DKK)Accumulated through last announcement 602,818 1,222,541,085.50April 29, 202...
- Martin Arnell
Stillfront Group (Buy, TP: SEK21.00) - Most negatives priced in
Flat organic growth YOY in Q1 did not live up to the market’s expectations (we forecast +2%), and higher-than-expected UAC led to a ~15% miss on adj. EBIT. However, we believe Stillfront has laid the basis for solid earnings growth in Q2–Q3e, when it is set to lower UAC in a recovering mobile gaming market. We reiterate our BUY, but have reduced our target price to SEK21 (23), and see most of the negatives reflected at these levels.
- Rune Majlund Dahl
Genmab (Buy, TP: DKK2630.00) - Epinkly off to a good start in 2024
Q1 sales beat our forecast and consensus due to higher product-related royalties and solid Epkinly sales, while the operating profit margin was softer than expected owing to higher opex. Genmab reiterated the 2024 guidance for sales of DKK18.7bn–20.5bn, opex of DKK12.4bn–13.4bn, and operating profit of DKK4.6bn–7.1bn. We expect a strong pipeline of news flow in 2024. We reiterate our BUY and DKK2,630 target price.
Genmab Announces Financial Results for the First Quarter of 2024
Genmab Announces Financial Results for the First Quarter of 2024 May 2, 2024 Copenhagen, Denmark; Interim Report for the First Quarter Ended March 31, 2024 Highlights The U.S. Food and Drug Administration (U.S. FDA) granted Priority Review for the supplemental Biologics License Application (sBLA) for EPKINLY® (epcoritamab-bysp) for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL) after two or more lines of systemic therapy, with a Prescription Drug User Fee Act (PDUFA) target action date of June 28, 2024An additional Phase 3 clinical trial was initiated...
- ABGSC IT Research
- Oscar Rönnkvist
- Simon Jönsson
TIVDAK® (tisotumab vedotin-tftv) Receives U.S. FDA Approval to Treat R...
TIVDAK® (tisotumab vedotin-tftv) Receives U.S. FDA Approval to Treat Recurrent or Metastatic Cervical Cancer Company Announcement Full approval based on global Phase 3 study demonstrating overall survival benefit of TIVDAK compared to chemotherapyTIVDAK is the first antibody-drug conjugate in this patient population to have positive overall survival data COPENHAGEN, Denmark; April 30, 2024 – (Nasdaq: GMAB) and (NYSE: PFE) announced today the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for TIVDAK® (tisotumab vedotin-tftv) f...
Transactions in Connection with Share Buy-back Program Genmab
Transactions in Connection with Share Buy-back Program Genmab Company Announcement COPENHAGEN, Denmark; April 29, 2024 – Genmab A/S (Nasdaq: GMAB). On March 15, 2024, Genmab announced the initiation of a share buy-back program to repurchase up to DKK 3.5 billion worth of shares. The share buy-back program is expected to be completed no later than December 16, 2024. The following transactions were executed under the program from April 22, 2024 to April 26, 2024: Trading PlatformNo. of sharesAverage price (DKK)Total value (DKK)Accumulated through last announcement 408,701 836,159,5...
- Karl-Johan Bonnevier
Netel Group Holding (Buy, TP: SEK25.00) - 2024 focus on profit and cas...
Q1 gave further signs of good progress towards lowering volatility and raising performance across its operations. It is still a seasonally small (winter) quarter, but this year lacked last year’s troubles in Finland and Norway. We still see solid demand fundamentals and Netel further rebuilding its financial capacity in 2024. We have only tweaked our forecasts, and still find the stock attractive (2024–2026e FCF yield 14–23%). We reiterate our BUY and SEK25 target price.
- ABGSC IT Research
- Oscar Rönnkvist
- Simon Jönsson
- ABGSC IT Research
- Oscar Rönnkvist
- Simon Jönsson
Transactions in Connection with Share Buy-back Program Genmab
Transactions in Connection with Share Buy-back Program Genmab Company Announcement COPENHAGEN, Denmark; April 22, 2024 – Genmab A/S (Nasdaq: GMAB). On March 15, 2024, Genmab announced the initiation of a share buy-back program to repurchase up to DKK 3.5 billion worth of shares. The share buy-back program is expected to be completed no later than December 16, 2024. The following transactions were executed under the program from April 15, 2024 to April 19, 2024: Trading PlatformNo. of sharesAverage price (DKK)Total value (DKK)Accumulated through last announcement 269,334 555,043,478.37Ap...
- Simen Mortensen
Renovation rules now a reality
The Energy Performance of Buildings Directive (EPBD) was approved on 12 April, requiring the modernisation of existing real estate in the EU, and will soon enter the Official Journal of the EU. Member states will have two years to incorporate the provisions into their national legislation. While Q1 is Nordic construction’s low season due to winter effects, we see some downside risk to Q1e consensus and longer-term to 2024–2026e EBIT on lower development gains. We recommend a stock-picking approa...
Genmab Announces Net Sales of DARZALEX® (daratumumab) for First Quarte...
Genmab Announces Net Sales of DARZALEX® (daratumumab) for First Quarter of 2024 Company Announcement Net sales of DARZALEX® in the first quarter of 2024 totaled USD 2,692 millionGenmab receives royalties on worldwide net sales from Janssen Biotech, Inc. (Janssen) COPENHAGEN, Denmark; April 16, 2024 – (Nasdaq: GMAB) announced today that worldwide net trade sales of DARZALEX® (daratumumab), including sales of the subcutaneous (SC) product (daratumumab and hyaluronidase-fihj, sold under the tradename DARZALEX FASPRO® in the U.S.), as reported by Johnson & Johnson were USD 2,692 million in t...
Transactions in Connection with Share Buy-back Program Genmab
Transactions in Connection with Share Buy-back Program Genmab Company Announcement COPENHAGEN, Denmark; April 15, 2024 – Genmab A/S (Nasdaq: GMAB). On March 15, 2024, Genmab announced the initiation of a share buy-back program to repurchase up to DKK 3.5 billion worth of shares. The share buy-back program is expected to be completed no later than December 16, 2024. The following transactions were executed under the program from April 8, 2024 to April 12, 2024: Trading PlatformNo. of sharesAverage price (DKK)Total value (DKK)Accumulated through last announcement 194,403 400,795,598.95Apr...
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