Arctic Securities:
BerGenBio ASA
Recommendation: Buy · Target Price: NOK 80.0 (86.0) · Current Share Price: NOK 35.1
Well positioned for the next stage
The strong financial position provides funding for larger, potentially pivotal, studies next year. The UK initiative ACCORD for Covid-19 development was stopped, but BGBIO will sponsor a new study. Cancer is the core R&D effort and will have exciting read-outs in both lung- and blood cancer trials in the next six months. We reiterate BUY at NOK 80/share (86). The slight adjustment in TP is due to the new Covid-19 study costing additional time and resources.

Lenke?

Edison Group:
Vi verdsetter BerGenBio til NOK 5,16 milliarder eller NOK 59,1 per aksje basert på en risikojustert NPV-analyse. De viktigste driverne er bemcentinib i 2L NSCLC (topp salg $ 1,2 milliarder, NOK 40,7 / aksje) og AML (topp salg $ 588 millioner, NOK 13,3 / aksje) pluss COVID-19 mulighet (NOK 5,9 / aksje). Vi legger til nettokontanter på 777,9 millioner kroner ved utgangen av Q320 og netto avbetalinger på grunn av Rigel (9,8 kroner / aksje). Vi tar ikke med tilvestamab i vår verdsettelse. Viktige forsknings- og utviklingspunkter i 2020/21 vil bestemme registreringsveiene.

https://www.edisongroup.com/publication/bemcentinib-leading-the-axl-charge/28247
DnB:
BERGENBIO Next data at ASH in December BerGenBio reported a somewhat larger loss in the quarter than we had estimated, but we are not concerned as this was mainly due to higher activity in the ongoing trials. Following two strong vaccine results lately (BioNTech and Moderna), the stock has lost some of the gains that resulted from the potential Covid-19 treatment with bemcentinib. The company believes there is likely to be a market for treatments for Covid-19 despite vaccines coming to the market. The trials in bemcentinib and Covid-19 should have data read-outs in early 2021 we believe. We reiterate our BUY and NOK68 target price. 

https://www.dnb.no/seg-fundamental/fundamentalweb/GetReports.aspx?file=CMP4_166386.pdf&Sid=1-2YAI9

Simplywall.st
Executive Summary

BerGenBio ASA, a clinical-stage biopharmaceutical company, develops medicines to treat immune evasive, drug resistant, and metastatic cancers. 

REWARDS

Trading at 92% below our estimate of its fair value

VALUATION

Below Fair Value: BGBIO (NOK32.2) is trading below our estimate of fair value (NOK400.31)

https://simplywall.st/stocks/no/pharmaceuticals-biotech/ob-bgbio/bergenbio-shares#share-price-and-news

Merk at analysen fra Simplywall.st ikke er så ulik de andre. DnB, Arctic og Edison bruker 20% sannsynlighet for suksess for kreft-delen, og kun 10% sannsynlighet for suksess med covid. I tillegg skrive de at de har lagt til grunn konservative data for royalties ved outsourcing av salg.


Er det noen som har analyse fra Pareto?