Active Biotech AB Rises After "Buy" Recommendation

Active Biotech AB (ACTI), a Swedish drug developer, extended yesterday’s gains in Stockholm and reached its highest value in 10 days after Pareto Securities ASA recommended buying the shares on the outlook for a multiple sclerosis treatment. Active Biotech rose as much as 13 percent, reaching the highest intraday price since March 6 and adding to yesterday’s 24 percent gain. The stock traded 8.3 percent higher at 53.50 kronor as of 10:18 a.m. Yilmaz Mahshid, an analyst at Pareto Securities, raised the recommendation for the shares to “buy” from “hold” and raised the target price to 65 kronor from 50 kronor, in a note to clients today.

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