Anti-vaxxer fanatics threaten 40% of SOBI EBIT

Saniona AB: 1 director

A director at Saniona AB sold 502,628 shares at 14.205SEK and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sho...

Oncopeptides AB: 2 directors

A director at Oncopeptides AB bought 56,820 shares at 4.400SEK and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...

A double-edged sword in recovery

Swedish Orphan Biovitrum AB: 1 director

A director at Swedish Orphan Biovitrum AB sold 7,723 shares at 288.474SEK and the significance rating of the trade was 66/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two y...

Waiting for an inflection point

Little room for errors

Small beat, puts upwards pressure on guidance into H2'25

A solid quarter

Q1'25: no signs of commercial inflection

Swedish Orphan Biovitrum (Buy, TP: SEK365.00) - Haemophilia the highli...

Q1 sales beat our forecast by 5% and adj. EBITA outperformed by 8%. Overall, we believe the highlight in the report was the stronger haemophilia result than expected, with solid growth in Altuvoct and a smaller decline for Elocta than forecast. The weak spot was Vonjo sales, which missed our estimate by 28% and consensus by 29%, with management citing stocking issues. We reiterate our BUY and SEK365 target price.

Efficient execution

Q1'25: delivering on EBITA

Heads-up for report 29 April

New CEO, new execution

Q1: New CEO with track record

Pipeline the main trigger in 2025

Meagre Q1 ahead, but long-term case intact

Swedish Orphan Biovitrum (Buy, TP: SEK365.00) - Slightly below consens...

We forecast a decent quarter, despite some difficult revenue comparables, with no manufacturing revenues, lower Elocta sales and lower Beyfortus royalties YOY, unlikely to be fully compensated by new product growth, such as for Altuvoct. Meanwhile, the company continues to invest in its recently launched products (and coming launches), which should be well known by the market. We reiterate our BUY and SEK365 target price.