Swedish Orphan Biovitrum AB (SOBI) AI Stock Analysis

• Market Cap: kr134.02B
• Dividend Yield: N/A
• Average Volume (3M): 396.16K
• Price to Earnings (P/E): 279.6
• Beta (1Y): 1.20
• Revenue Growth: 9.50%
• EPS Growth: -99.31%
• Country: SE
• Employees: 1,895
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 5.39
• Shares Outstanding: 357,412,840
• 10 Day Avg. Volume: 356,894
• 30 Day Avg. Volume: 396,160
• PEG Ratio: -2.73
• Price to Book (P/B): 3.04
• Price to Sales (P/S): 4.06
• P/FCF Ratio: 13.44
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: kr481.67
• Price Target Upside: 23.95% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 17.1
• Revenue Forecast (FY): kr31.46B

• Rating: 64 Neutral
• Price Target: kr424.00 ▲(9.11% Upside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is primarily supported by strong cash generation, solid operating profitability, and improving leverage, alongside a strong technical uptrend. It is held back by the sharp latest-year drop in net income/ROE and a very expensive valuation (P/E ~285), with overbought technical signals adding near-term risk.

Positive Factors

Free cash flow strength

Rebounding and robust free cash flow provides durable internal funding for R&D, commercialization of orphan therapies, debt reduction or partnerships. Strong FCF cushions the business through clinical cycles and supports long-term investment without requiring frequent external financing.

Improving leverage

Material improvement in leverage and a more moderate capital structure reduce financial risk and interest burden, increasing strategic flexibility. For a specialty biotech, this enables sustained investment in niche pipelines and M&A or partnering while maintaining solvency through product cycles.

Revenue momentum & operating profitability

Consistent revenue growth combined with solid gross and EBITDA margins indicates durable commercial traction for core rare-disease therapies. This operating profitability supports reinvestment into pipelines and helps absorb R&D variability common in specialty pharma over multiple quarters.

Negative Factors

Sharp net income / ROE drop

A sharp fall in net income and ROE signals deterioration in returns on capital that may reflect one-offs or persistent below-operating-line pressures. Sustained lower ROE weakens investment returns and could constrain capital allocation choices and investor confidence over months to years.

Compressed net margins

Net margins compressed to low single digits reduce the company's buffer against cost inflation, pricing pressure or reimbursement changes. Low bottom-line profitability limits free cash resilience if operating margins face headwinds and raises sensitivity to non-operating costs.

Volatile cash conversion / earnings quality

Volatility in cash conversion and a mismatch between strong cash flow and weaker reported earnings complicates forecasting and assessment of recurring profitability. This earnings quality uncertainty raises execution risk for long-term planning and may mask structural cost issues.

Swedish Orphan Biovitrum AB Business Overview & Revenue Model

Company Description

Swedish Orphan Biovitrum AB (publ), an integrated biotechnology company, researches, develops, manufactures, and sells pharmaceuticals in the therapeutic areas of haematology, immunology, and genetic and metabolic diseases in Europe, North America, and internationally. It offers Alprolix for haemophilia B; Doptelet treatment of thrombocytopenia; Elocta for haemophilia A; Gamifant for hemophagocytic lymphohistiocytosis(HLH); Kineret for cryopyrin associated periodic syndrome, rheumatoid arthritis, and still's disease; Orfadin to treat hereditary tyrosinaemia type-1; and Synagis for serious lower respiratory tract infection. The company It also provides other products, such as Akynzeo, Aloxi, Ammonul, Betapred, Caphosol, Fibclot, IVheBex, and Willfact. In addition, it develops drug substance for ReFacto AF/Xyntha for Pfizer; BIVV001 for haemophilia A; and Nirsevimab for respiratory syncytial virus. The company has a strategic collaboration with Apellis Pharmaceuticals Inc. to develop pegcetacoplan for the treatment of multiple rare diseases, including paroxysmal nocturnal hemoglobinuria. Swedish Orphan Biovitrum AB (publ) is headquartered in Solna, Sweden.

How the Company Makes Money

SOBI generates revenue primarily through the sale of its innovative biopharmaceutical products. The company has a diverse range of therapies, including those for hemophilia and rare inflammatory diseases, which are sold to healthcare providers and hospitals. Key revenue streams include direct sales from its proprietary products, royalties from licensing agreements, and collaborations with other pharmaceutical companies that may involve co-development or marketing of therapies. SOBI also benefits from partnerships that expand its product pipeline and market presence, contributing significant revenue through shared resources and risk mitigation in drug development.

Swedish Orphan Biovitrum AB Financial Statement Overview

Summary

Strong revenue momentum, solid gross/EBITDA profitability, improving leverage, and very strong recent free cash flow support the score. The key offset is the sharp deterioration in net income and ROE in the latest year, raising uncertainty about earnings durability despite healthy cash generation.

Income Statement

Revenue has grown strongly over the period, with the latest annual growth accelerating. Profitability at the gross and EBITDA levels remains solid, but the most recent year shows a sharp drop in bottom-line profitability versus prior years (net margin falling to low-single-digits). This suggests either a material one-off impact or a meaningful increase in below-operating-line costs, making earnings quality and near-term margin stability a key watch item.

Balance Sheet

Leverage looks manageable with debt-to-equity improving materially over the last few years and ending at a moderate level, indicating a healthier capital structure. However, returns on equity have compressed significantly in the latest year, consistent with weaker net income, which reduces the balance sheet’s efficiency even as leverage improves.

Cash Flow

Cash generation is a clear strength: operating cash flow is robust and free cash flow has rebounded strongly, including very strong growth in the latest year and a sharp recovery from the negative free cash flow year earlier in the period. That said, cash flow coverage of earnings has been volatile over time, and the recent step-down in net income makes cash conversion comparisons less straightforward year-to-year.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	28.24B	26.03B	22.12B	18.79B	15.53B
Gross Profit	12.32B	20.24B	17.13B	14.01B	12.04B
EBITDA	10.96B	9.30B	7.23B	6.05B	5.71B
Net Income	478.00M	3.88B	2.41B	2.64B	2.68B
Balance Sheet
Total Assets	67.43B	75.44B	74.03B	52.50B	48.66B
Cash, Cash Equivalents and Short-Term Investments	1.04B	1.14B	904.00M	1.36B	1.04B
Total Debt	11.75B	16.73B	20.48B	9.10B	10.91B
Total Liabilities	29.71B	35.15B	40.16B	25.97B	25.46B
Stockholders Equity	37.72B	40.29B	33.87B	26.52B	23.20B
Cash Flow
Free Cash Flow	8.52B	4.38B	-473.00M	3.19B	5.10B
Operating Cash Flow	8.56B	7.39B	4.47B	4.67B	5.47B
Investing Cash Flow	-4.29B	-3.09B	-21.90B	-1.48B	-367.00M
Financing Cash Flow	-4.32B	-4.00B	17.01B	-2.99B	-4.47B

Swedish Orphan Biovitrum AB Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 388.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:SOBI, the sentiment is Neutral. The current price of 388.6 is below the 20-day moving average (MA) of 398.25, above the 50-day MA of 359.93, and above the 200-day MA of 313.94, indicating a neutral trend. The MACD of 11.59 indicates Positive momentum. The RSI at 51.85 is Neutral, neither overbought nor oversold. The STOCH value of 5.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:SOBI.

Swedish Orphan Biovitrum AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SOBI	64 Neutral	kr134.02B	279.59	11.60%	―	9.50%	-99.31%
NANEXA	56 Neutral	kr627.07M	-52.12	-48.65%	―	-60.33%	58.04%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ORX	44 Neutral	kr926.47M	-7.17	―	―	-8.79%	-91.09%
ALZCUR	44 Neutral	kr218.91M	-4.15	-90.66%	―	―	15.74%
ERMA	44 Neutral	kr49.83M	-0.56	―	―	―	―
KLAR	42 Neutral	kr183.99M	-3.34	-530.21%	―	―	17.42%

Swedish Orphan Biovitrum AB Corporate Events

Sobi Posts Strong 2025 Growth and Expands Rare Disease Portfolio With Strategic Deals and Launches

Sobi closed 2025 with strong operational momentum, reporting fourth-quarter revenue growth of 16% at constant exchange rates and an adjusted EBITA margin of 41%, driven mainly by a 25% haematology increase and robust demand for Altuvoct and Doptelet, while full-year revenue rose 15% at constant exchange rates and margin reached 40%. The company’s strategic portfolio now represents 65% of revenue and grew 37% at constant exchange rates, underpinned by continued launches of Altuvoct and Gamifant, the EU launch of Tryngolza for familial chylomicronaemia syndrome, regulatory submissions for Aspaveli and NASP, and the planned acquisition of Arthrosi Therapeutics to strengthen its gout franchise; Sobi guided for low double‑digit revenue growth and mid‑30s adjusted EBITA margin in 2026 and opted against paying a dividend for 2025 to support its growth agenda.

The most recent analyst rating on (SE:SOBI) stock is a Buy with a SEK420.00 price target. To see the full list of analyst forecasts on Swedish Orphan Biovitrum AB stock, see the SE:SOBI Stock Forecast page.

Sobi Lifts 2025 Revenue and Profitability Above Previous Outlook

Sobi reported that its full-year 2025 revenue rose to approximately SEK 28.2 billion, equating to about 15% growth at constant exchange rates, with an adjusted EBITA margin of around 40%—both exceeding the company’s earlier guidance of low double-digit revenue growth and a mid- to high-30s margin. The outperformance was driven primarily by stronger-than-expected fourth-quarter sales of Doptelet, Gamifant and its haemophilia portfolio, boosting profitability and underscoring the continued commercial momentum of its rare-disease therapies ahead of its detailed fourth-quarter and full-year 2025 results release on 5 February 2026.

The most recent analyst rating on (SE:SOBI) stock is a Buy with a SEK382.00 price target. To see the full list of analyst forecasts on Swedish Orphan Biovitrum AB stock, see the SE:SOBI Stock Forecast page.

Sobi Advances Gamifant After Positive Phase 2a Data in Interferon-Gamma–Driven Sepsis

Sobi announced that topline phase 2a data from the EMBRACE trial of Gamifant (emapalumab) in patients with interferon-gamma–driven sepsis (IDS) in Greece support proof of concept, showing improvements in organ dysfunction and survival when added to standard care. On the back of these results, Sobi and its collaborator, the Hellenic Institute for the Study of Sepsis, plan to advance development of emapalumab for this newly defined sepsis endotype—associated with very high mortality—and will discuss next clinical and regulatory steps with authorities, potentially expanding Gamifant’s use beyond its current approvals in hemophagocytic lymphohistiocytosis and strengthening Sobi’s position in precision immunotherapy for severe inflammatory conditions.

The most recent analyst rating on (SE:SOBI) stock is a Hold with a SEK374.00 price target. To see the full list of analyst forecasts on Swedish Orphan Biovitrum AB stock, see the SE:SOBI Stock Forecast page.

Sobi Acquires Arthrosi Therapeutics to Strengthen Gout Treatment Pipeline

Swedish Orphan Biovitrum AB (Sobi) has announced its acquisition of Arthrosi Therapeutics, a biotechnology company specializing in next-generation treatments for gout. This strategic move enhances Sobi’s pipeline with pozdeutinurad, a promising Phase 3 URAT1 inhibitor, which could significantly boost Sobi’s growth and market position in the gout treatment sector. The acquisition, valued at up to USD 1.5 billion, is expected to close in the first half of 2026 and will be primarily funded through debt. This deal underscores Sobi’s commitment to expanding its treatment options for gout and is anticipated to be highly accretive to the company’s long-term growth and margins.

The most recent analyst rating on (SE:SOBI) stock is a Hold with a SEK374.00 price target. To see the full list of analyst forecasts on Swedish Orphan Biovitrum AB stock, see the SE:SOBI Stock Forecast page.