Intervacc AB: 2 directors

Two Directors at Intervacc AB bought 2,410,000 shares at between 0.970SEK and 1.016SEK. The significance rating of the trade was 75/100. 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 ...

Oncopeptides (Buy, TP: SEK2.00) - Softer-than-expected earnings

Although Q4 earnings were weaker than we expected, operating expenses were higher (partly due to borderline one-off costs; R&D-related for an EMA facility inspection). We have lowered our sales forecasts for Pepaxti in Europe. However, we believe 2025 will be important for the company, as sales should start to ramp up in Italy and Spain. We reiterate our BUY, but have reduced our target price to SEK2.0 (2.5).

Q4 report: weak upward trend

Egetis: model update

Following FY 2024 results published yesterday, we update our model taking into account the latest financials. We reiterate our Buy rating and SEK15 PT.

Q4 a mixed bag but Germany launch ahead

Egetis Therapeutics (Buy, TP: SEK11.00) - First launch coming up

In our view, the Q4 report was something of a non-event, but the company gained European approval for Emcitate on 13 February, and is planning launches in Germany in Q2 and in Spain, Italy and France in H2. Moreover, the pivotal US trial, ReTRIACt, is progressing, with the company planning to file for US approval in 2025. We reiterate our BUY and SEK11 target price.

Egetis: Making steady progress in the US trial

Egetis has reported FY 2024 results with a net loss for the period of SEK343.6m and a cash position standing at SEK351m. Importantly, the company provided an updated on the status of the US phase 3 trial, with now 19 patients included (up from 17 in December), of which 11 patients have completed th

Q4: ReTRIACt lagging, but GER launch coming

AZN - Innovation Premium Warranted (BUY, TP £150 [£120], 14pgs)

Our new deep-dive on the P2 pipeline shows that AZN can sustain 6% CAGR sales growth to 2030 despite a number of LOE’s and as a result, we believe AZN warrants a significant innovation premium. We assume a 25% success rate for the P2 pipeline despite AZN historically delivering 30%. Moreover, there are a multitude of catalysts this year that will likely de-risk the L-T growth profile & drive significant cons. upgrades. Our analysis of the baxdrostat opportunity shows that consensus forecasts app...

Egetis: Emcitate receives EU approval

Egetis announced yesterday during market hours the EU approval of Emcitate to treat MCT8 deficiency from birth, with a launch expected in Q2 2025. As communicated during the CMD in December (note here), the EU commercialisation will be phased, and most of the early focus will be on pricing and reim

Patience is a virtue

Just what the doctor ordered

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/06/2025

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/02/2025

AstraZeneca : An initial estimate for China, cautious 2025 guidance

AstraZeneca : Première estimation pour la Chine, guidance 2025 prudent...

2025 is start of "unprecedented, catalyst-rich period"

Q4: Year-end sales bump

Swedish Orphan Biovitrum (Buy, TP: SEK365.00) - Investing for growth

SOBI reported in line with its pre-announced earnings. We expected a higher margin than consensus. Guidance for 2025 was for high-single-digit growth and an adj. EBITA margin in the mid-30s. We believe our margin assumptions have been too high, and have thus made adjustments. However, as SOBI has several new launches and multiple clinical trials, we believe the investments in sales and marketing are sound. We reiterate our BUY, despite lowering our estimates, and have raised our target price to ...