India, May 20 -- Wedbush reiterated its Outperform rating on Hansa Biopharma AB (HNSA) with a 12-month price target of SEK 69.00, noting the shares are currently trading at SEK 33.08.
The update follows Hansa's announcement of an exclusive licensing agreement with SERB Pharmaceuticals for the commercialization of IDEFIRIX (imlifidase), a first-in-class treatment that cleaves immunoglobulin G (IgG) antibodies within hours, across Europe and MENA.
The deal provides €110 million upfront and €5 million upon EMA acceptance of the filing for full approval, with closing expected within 60 days.
Wedbush analyst David Nierengarten said the transaction "monetizes the European franchise at an attractive valuation, while simultaneously a...