Orion slips despite outlook hike, analyst points to likely profit taking

Orion Oyj

11/09/2024 11:38

** Orion  ORNBV.HE  shares slip around 4% despite outlook
hike, with an analyst pointing to likely profit taking after the
Finnish drugmaker's strong share price run this year
    ** "As Orion shares have developed well and as 2025 outlook
looks weaker on reported basis ... the announcement seems to
trigger some profit taking," Danske Bank's Sami Sarkamies says
    ** Up to the previous session's close, shares were up 23%​
YTD
    ** Jefferies notes feedback that Street numbers were already
known and calls the share price reaction as "overdone"
    ** Analysts also note a general weakness in pharmaceutical
sector, with STOXX healthcare index  .SXDP  down 0.1%



 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))