Berenberg Lifts Sobi Price Target After 'High-quality' Q3 Beat; Buy Rating Kept

07:43 AM EST, 11/03/2026 (MT Newswires) -- Berenberg raised its price target on Swedish Orphan Biovitrum (SOBI.ST), or Sobi, with an unchanged buy rating, following the company's "high-quality" third-quarter beat. The biopharmaceutical company reported third-quarter total revenue of 9.12 billion kronor, up 16% at constant exchange rates and 2% above consensus, while adjusted EBITA came in 13% ahead of consensus at 4.1 billion kronor, according to a Tuesday note. Sobi also updated its full-year 2026 revenue growth guidance to the high-teens to low-20s per cent range at constant exchange rates. "Sobi reported a high-quality Q3 2026 beat on 27 October, raising its revenue growth guidance for the second time this year and guiding to the higher end of its margin range on the call. The top- and bottom-line beat was achieved despite a miss on Beyfortus royalties, and we view the mix shift away from this key swing factor as positive given rising competitive risk." Berenberg wrote as it raised the stock's price target to 600 kronor from 570 kronor. Berenberg also raised its EPS forecasts for 2027 to 2030 by 2% to 4%, even as it lowered its Beyfortus estimates. "Sobi trades on c16x 2028E EPS, which is attractive for the c20% EPS growth it offers with strong cash generation (c6% FCF yield post-milestones)," it added.