GS starts BioArctic at 'buy' on strong Alzheimer's opportunity

BioArctic AB

11/12/2023 11:14

** Goldman Sachs initiates BioArctic  BIOAb.ST  with "buy"
on the Swedish biotechnology company's scope for the treatment
of Alzheimer's disease
    ** It says the company is an "underappreciated contributor"
to the progression of amyloid beta antibodies for the treatment
of Alzheimer's
    ** GS says BioArctic is "strongly positioned in biotech,
with binary clinical risk now moderated" and with a clear path
to profitability, given the full approval of Alzheimer's drug
Leqembi
    ** It points to Exidavenamb as another key pipeline asset,
due to enter phase 2 trials in Parkinson's disease in 2024
    ** The broker sets TP at SEK 354
    ** Shares in BioArctic rise 10.6% to SEK 258.80 at 1113 GMT,
on track for best day since September 2022

 (Reporting by Elsa Ohlen)
 ((elsa.ohlen@thomsonreuters.com))