Recommendation

Analyst	Date	Valuation	Recommendation
Pareto Securities AG	13.04.2023	8.80 € per share	Buy
EQUI.TS GmbH	06.04.2023	5.80 € per share	Buy
Stifel Europe Bank AG	28.02.2022	8.94 € per share	Buy
Bryan, Garnier & Co Ltd	28.03.2023	12 € per share	Buy

The entire contents of these reports is solely attributable to the authors. Heidelberg Pharma AG accepts no responsibility for the validity of the statements contained in these reports, nor do these statements necessarily correspond to the views of the company.

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Analysts

Heidelberg Pharma AG is followed by the analysts listed below:

Pareto Secruties AS

Equity Research
Marietta Miemietz
Gräfstrasse 97, 60487 Frankfurt am Main
Telefon: +49 (0) 69 / 58997-434
eMail: This email address is being protected from spambots. You need JavaScript enabled to view it.

EQUI.TS GmbH

Thomas Schießle
Am Schieferstein 1, 60435 Frankfurt am Main
Telefon: +49 (0)69 95 45 43 60
eMail: This email address is being protected from spambots. You need JavaScript enabled to view it.
http://www.equits.com/research-reports

Stifel Europe Bank AG

Equity Research, Healthcare
Kennedyallee 76, 60596 Frankfurt am Main
+49 (69) 78808 221

Bryan, Garnier & Co Ltd

Equity Research, Biotechnology
Olga Smolentseva, PhD
26 Avenue des Champs-Elysées
75008 Paris, France
+33 (1) 56 68 75 57
email: This email address is being protected from spambots. You need JavaScript enabled to view it.