H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Hansa Biopharma AB today and set a price target of SEK132.00.
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Douglas Tsao’s rating is based on several key considerations surrounding Hansa Biopharma AB’s current and future prospects. Despite a challenging quarter marked by disappointing sales of Idefirix in Europe, particularly due to issues in Germany and Spain, Tsao remains optimistic about the company’s pipeline. He believes that the focus should shift towards the potential of imlifidase in treating acute IgG-driven autoimmune diseases, such as anti-GBM and Guillain Barre Syndrome, which could offer significant growth opportunities.
Furthermore, Tsao highlights the potential for a more successful commercial launch in the US, which could offset the European setbacks. The company’s ongoing studies and development plans, particularly for GBS, are seen as promising avenues for future value. Although there has been a downward adjustment in the price target due to current sales softness, the strategic focus on expanding the therapeutic applications of imlifidase and the anticipated US market entry underpin the Buy rating.