Analyst Douglas Tsao from H.C. Wainwright maintained a Buy rating on Hansa Biopharma AB and keeping the price target at SEK143.00.
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Douglas Tsao has given his Buy rating due to a combination of factors that highlight both the challenges and opportunities for Hansa Biopharma AB. Despite a disappointing second quarter in terms of commercial performance, largely due to fluctuations in donor availability and Germany’s withdrawal from the Eurotransplant pilot, Tsao sees potential for future growth. The renegotiation of debt with Novaquest, converting a significant portion into equity and deferring cash payments, provides financial flexibility and aligns with expectations of US approval for imlifidase by 2027.
Tsao also notes the promising outlook for Idefirix, Hansa’s key product, particularly in the US market where stronger commercial adoption is anticipated compared to Europe. The company has shown substantial year-over-year revenue growth, driven by clinical expansion, inclusion in treatment guidelines, and securing reimbursement in key markets. These developments, along with the expectation of supportive data from ongoing studies, position Idefirix for long-term scaling in the European Union, reinforcing the Buy rating.