H. Lundbeck A/S

H. Lundbeck develops, produces and markets drugs for treating diseases of the central nervous system. Products include antidepressants for the treatment of depression, panic disorder, and prevention of relapse/recurrence. Antipsychotic products for psychotic disorders; schizophrenia, anxiety, restlessness and insomnia; treatment of psychotic disorders; acute psychotic episodes, exacerbation of psychotic disorders. Co.'s products inclue Cipralex®/Lexapro® for the treatment of depression and anxiety; Ebixa® for the treatment of Alzheimer's disease; Azilect® for the treatment of Parkinson's disease; Xenazine®, Sabril®, Saphris® Sycrest®, Onfi, and other.
  • TickerLUN
  • ISINDK0010287234
  • ExchangeNasdaq Nordic Copenhagen
  • SectorPharmaceuticals & Biotechnology
  • CountryDenmark

Analysts

Christoffer Wang Bjørnsen ...
  • Håkon Astrup
  • Jesper Ingildsen
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Viktor Trollsten

Northern Lights

Håkon Astrup ...
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Rune Majlund Dahl

Lundbeck (Hold, TP: DKK270.00) - Focus on key products

We forecast good momentum in key products in Q2 but not enough to offset the accelerated decline in Onfi and Sabril sales due to generic competition; however, this is reflected in consensus. We further believe that the revenue and EBIT guidance could be narrowed by DKK100m towards the high end of the range. Following the recent share price decline and good sales growth for key products we have upgraded to HOLD (SELL), and have raised our target price to DKK270 (260).

Rune Majlund Dahl

Lundbeck (Hold, TP: DKK270.00) - Focus on key products

We forecast good momentum in key products in Q2 but not enough to offset the accelerated decline in Onfi and Sabril sales due to generic competition; however, this is reflected in consensus. We further believe that the revenue and EBIT guidance could be narrowed by DKK100m towards the high end of the range. Following the recent share price decline and good sales growth for key products we have upgraded to HOLD (SELL), and have raised our target price to DKK270 (260).

Karen Andersen

Morningstar | Lundbeck Reported Revenue Decline in 1Q; Bolstering Pipeline With Acquisition of Abide Therapeutics

Lundbeck reported in line first-quarter results, with revenue reaching DKK 4,234 million, representing an 8% decline from last year (6% in constant currency). Most of the narrow-moat pharmaceutical's products are tracking our expectations, including its biggest drivers, Abilify Maintena (up 27% from last year), Brintellix (29%), Northera (10%), and Rexulti (30%), which all treat various mental disorders, such as depression and anxiety. After accounting for the recently announced acquisition of Abide Therapeutics, we are lowering our fair value estimate to DKK 280 per share. On May 6, Lundbeck...

Karen Andersen

Morningstar | Lundbeck Reported Revenue Decline in 1Q; Bolstering Pipeline With Acquisition of Abide Therapeutics. See Updated Analyst Note from 09 May 2019

Lundbeck reported in line first-quarter results, with revenue reaching DKK 4,234 million, representing an 8% decline from last year (6% in constant currency). Most of the narrow-moat pharmaceutical's products are tracking our expectations, including its biggest drivers, Abilify Maintena (up 27% from last year), Brintellix (29%), Northera (10%), and Rexulti (30%), which all treat various mental disorders, such as depression and anxiety. After accounting for the recently announced acquisition of Abide Therapeutics, we are lowering our fair value estimate to DKK 280 per share. On May 6, Lundbeck...

Karen Andersen

Lundbeck Reported Revenue Decline in 1Q; Bolstering Pipeline With Acquisition of Abide Therapeutics

Lundbeck reported in line first-quarter results, with revenue reaching DKK 4,234 million, representing an 8% decline from last year (6% in constant currency). Most of the narrow-moat pharmaceutical's products are tracking our expectations, including its biggest drivers, Abilify Maintena (up 27% from last year), Brintellix (29%), Northera (10%), and Rexulti (30%), which all treat various mental disorders, such as depression and anxiety. After accounting for the recently announced acquisition of A...

Rune Majlund Dahl

Lundbeck (Sell, TP: DKK260.00) - Low-quality beat

Q1 beat our estimates and consensus on revenue and earnings, but with a lower than expected EBIT margin of 28.3%, we regard the beat as low-quality. The 2019 revenue guidance was narrowed to DKK16.3bn–16.7bn (16.1bn–16.7bn), but unchanged for EBIT at DKK4.2bn–4.6bn, due to the Abide acquisition. We have lowered our target price to DKK260 (270), and reiterate our SELL.

1 director sold

A director at Lundbeck(H) A S sold 4,000 shares at 266.700DKK and the significance rating of the trade was 71/100. 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 showing Close periods where trading activity is restricted under listing rules. The names of boar...

Christoffer Wang Bjørnsen ...
  • Håkon Astrup
  • Jesper Ingildsen
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Viktor Trollsten

Northern Lights

Håkon Astrup ...
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Christoffer Wang Bjørnsen ...
  • Håkon Astrup
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolai Farstad Olsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Martin Arnell
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl

Northern Lights

Christer Magnergård ...
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

H.Lundbeck, March 26 2019

In general, Lundbeck is in compliance with the Danish regulations relating to organisation and procedures of the Annual General Meeting. Under ITEM 4.1, it is proposed to re-appoint Mr. Lars Soren Rasmussen as Chairman of  the board of directors. Although he is considered independent, ECGS notes that Mr. Rasmussen is currently chairing the Company's remuneration committee, which is not in accordance with its guidelines. ECGS furthermore notes a lack of female representation (22%) on the board and based on its guidelines the re-election of the chairman of the chairmanship (performing the dutie...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Health Care outperforming globally -- overweight; India breaking out -- add exposure With the primary global ex-U.S. indexes MSCI EAFE, MSCI EM, and MSCI ACWI ex-U.S. continuing their sideways to downward consolidation from a price perspective, the importance of Sector, Group, and stock selection is critical. • Sector and Group Opportunities. Today we put the spotlight on the Health Care Sector, which is assuming a global leadership role as it separates itself from the other international Sectors. We also focus on the Communications Sector as it has seen steady relative strength ranking (RSR...

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