Swedish Orphan Biovitrum AB

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.
  • TickerSOBI
  • ISINSE0000872095
  • ExchangeNasdaq Nordic Stockholm
  • SectorPharmaceuticals & Biotechnology
  • CountrySweden

Analysts

Joachim Gunell ...
  • Jon Berggren
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Paul Harper
  • Simen Mortensen

Northern Lights

Jon Berggren

Swedish Orphan Biovitrum (Buy, TP: SEK275.00) - Long-term case reinforced

Sobi continues to diversify its portfolio and broaden its US footprint as it acquires Dova Pharmaceuticals. In our view, Dova’s main asset (Doptelet) has promising potential in markets with a total value of cUSD4bn. However, based on consensus for Dova, we believe Sobi’s 2020–2021 earnings will be negatively affected pro forma; hence, we have cut our 2020–2021e EPS. Separately, Sobi has opted in on BIVV001 but the terms are not as good as we expected. We have cut our target price to SEK275 (315) but we reiterate our BUY.

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Karen Andersen

Morningstar | SOBI Updated Star Rating from 18 Jul 2019

We're not expecting to make any significant changes to our SEK 240 per share fair value estimate for Sobi following a strong second quarter, as the firm's hemophilia franchise continues to hold up in Europe, and Gamifant's launch in the U.S. appears to be on track. Our valuation factors in a 50% probability that the firm is acquired at a 7 times multiple to 2019 sales, or roughly SEK 300 per share. While near-term sales and margins are benefiting from hemophilia product demand and the addition of high-margin Synagis to Sobi's portfolio, Roche's Hemlibra (approved in Europe in March 2019 for he...

Jon Berggren

Swedish Orphan Biovitrum (Buy, TP: SEK315.00) - Solid consensus beat

We find the Q2 results exceptional overall, with adj. EPS 39% above consensus. As we expected in our Q2 preview, Gamifant growth was strong. We find this encouraging as it is a high-margin product that continues to strengthen Sobi’s gross margin as the ramp-up continues. The company raised its full-year guidance, but as our forecasts were above the top-end prior to the Q2 report, we have only made minor adjustments to our full-year estimates and are now within the new guidance range. We reiterate our BUY and SEK315 target price.

Jon Berggren

Swedish Orphan Biovitrum (Buy, TP: SEK275.00) - Long-term case reinforced

Sobi continues to diversify its portfolio and broaden its US footprint as it acquires Dova Pharmaceuticals. In our view, Dova’s main asset (Doptelet) has promising potential in markets with a total value of cUSD4bn. However, based on consensus for Dova, we believe Sobi’s 2020–2021 earnings will be negatively affected pro forma; hence, we have cut our 2020–2021e EPS. Separately, Sobi has opted in on BIVV001 but the terms are not as good as we expected. We have cut our target price to SEK275 (315) but we reiterate our BUY.

Karen Andersen

Morningstar | SOBI Updated Star Rating from 18 Jul 2019

We're not expecting to make any significant changes to our SEK 240 per share fair value estimate for Sobi following a strong second quarter, as the firm's hemophilia franchise continues to hold up in Europe, and Gamifant's launch in the U.S. appears to be on track. Our valuation factors in a 50% probability that the firm is acquired at a 7 times multiple to 2019 sales, or roughly SEK 300 per share. While near-term sales and margins are benefiting from hemophilia product demand and the addition of high-margin Synagis to Sobi's portfolio, Roche's Hemlibra (approved in Europe in March 2019 for he...

Jon Berggren

Swedish Orphan Biovitrum (Buy, TP: SEK315.00) - Solid consensus beat

We find the Q2 results exceptional overall, with adj. EPS 39% above consensus. As we expected in our Q2 preview, Gamifant growth was strong. We find this encouraging as it is a high-margin product that continues to strengthen Sobi’s gross margin as the ramp-up continues. The company raised its full-year guidance, but as our forecasts were above the top-end prior to the Q2 report, we have only made minor adjustments to our full-year estimates and are now within the new guidance range. We reiterate our BUY and SEK315 target price.

Karen Andersen

Morningstar | Sobi Reports Strong 2Q Gamifant Sales as Hemophilia Competition Enters Market

We're not expecting to make any significant changes to our SEK 240 per share fair value estimate for Sobi following a strong second quarter, as the firm's hemophilia franchise continues to hold up in Europe, and Gamifant's launch in the U.S. appears to be on track. Our valuation factors in a 50% probability that the firm is acquired at a 7 times multiple to 2019 sales, or roughly SEK 300 per share. While near-term sales and margins are benefiting from hemophilia product demand and the addition of high-margin Synagis to Sobi's portfolio, Roche's Hemlibra (approved in Europe in March 2019 for he...

Karen Andersen

Sobi Reports Strong 2Q Gamifant Sales as Hemophilia Competition Enters Market

We're not expecting to make any significant changes to our SEK 240 per share fair value estimate for Sobi following a strong second quarter, as the firm's hemophilia franchise continues to hold up in Europe, and Gamifant's launch in the U.S. appears to be on track. Our valuation factors in a 50% probability that the firm is acquired at a 7 times multiple to 2019 sales, or roughly SEK 300 per share. While near-term sales and margins are benefiting from hemophilia product demand and the addition o...

2 directors bought/maiden bought

Two Directors at Swedish Orphan Biovitrum Ab bought/maiden bought 16,500 shares at between 178.050SEK and 179.850SEK. The significance rating of the trade was 84/100. 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...

Joachim Gunell ...
  • Jon Berggren
  • Martin Arnell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Paul Harper
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Jimi Lehtonen ...
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Jon Masdal
  • Jon Berggren
  • Martin Hoang Nguyen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Håkon Astrup
  • Jimi Lehtonen
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin
  • Tomi Railo

Northern Lights

With a more favourable environment, SWED.ORPHAN BIOVITRUM AB improves to Slightly Positive

SWED.ORPHAN BIOVITRUM AB (SE), a company active in the Pharmaceuticals industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date July 2, 2019, the closing price was SEK 182.70 and its potential was estimated at SEK 218.37.

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...

MarketLine Department

Swedish Orphan Biovitrum AB – Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report

Summary Pharmaceuticals and Healthcare Key Findings Pharmaceuticals and Healthcare Pharmaceuticals and Healthcare Reasons To Buys MarketLine Key Highlights Sweden

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

The U.S. has continued to separate itself from broad emerging market and developed international indexes. Thankfully, one positive is that MSCI EM and MSCI EAFE have been able to stabilize from a price perspective despite relative strength weakness vs. MSCI ACWI... see charts below. In today's report we scour the globe for attractive investments in an environment where selectivity is key. • Emerging markets. There is still not much to like about broad EM as the MSCI Emerging Markets index has remained weak following price and relative strength breakdowns. Remain underweight broad EM and be...

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