First Berlin Equity Research Reaffirms BUY Rating for APONTIS PHARMA AG

First Berlin Equity Research GmbH has updated its evaluation of APONTIS PHARMA AG, reiterating a BUY recommendation. The analyst, Christian Orquera, maintains a price target of EUR 17.00. H1/24 results met expectations with total sales rising by 19.2% to EUR 22.7 million. Sales in the core single pill segment showed significant growth, increasing by 47.9% to EUR 17.9 million.

The partnership with Novartis yielded initial sales of EUR 2.5 million within 2.5 months, indicating that the FY/24 sales target of EUR 9 million is achievable. EBITDA improved to EUR 2.1 million from a negative EUR 4.0 million in H1/23. Management confirmed the full-year guidance of EUR 50.7 million in sales and EUR 3.3 million in EBITDA.

New marketing strategies and additional partnerships, such as with Kaufmännische Krankenkasse Halle, indicate stronger market traction. The company now collaborates with three health insurers covering 28% of all statutory health insurance prescriptions. Upcoming single pill launches are on track, supporting further growth.