Berenberg Ups Sobi Price Target After Tryngolza Wins EU Backing for Expanded Use; Buy Rating Kept

06:29 AM EDT, 10/20/2026 (MT Newswires) -- Berenberg raised its price target for Swedish Orphan Biovitrum (SOBI.ST), or Sobi, after the company received European regulatory backing for the expanded use of its Tryngolza drug. "Sobi has received a positive scientific opinion for the Tryngolza indication expansion to severe hypertriglyceridemia (sHTG) from the European regulator. This represents one of Sobi's most important mid- to long-term opportunities and comes slightly ahead of our expectations in terms of timing - Sobi is now well positioned for launch in Germany in the beginning of 2027. We forecast 100% probability of SEK10bn peak Sobi Tryngolza sales, equating to an NPV of SEK64 per share (11% of total)," according to a Tuesday note. As such, Berenberg raised its price target on the stock to 570 kronor from 560 kronor, with the buy rating reiterated. Ahead of the biopharmaceutical company's third-quarter results on Oct. 27, the research firm said it forecasts revenue of 9 billion kronor, up 15% at constant exchange rates and in line with consensus, and an adjusted EBITA margin of 42%, which is 150 basis points ahead of market expectations. "We think that this stock - which offers c20% 2025-30 EPS growth - is attractive, trading on c15x 2028E," analysts said, adding that the company trades 10% below the value of its marketed assets.