Research-based biopharma company BioArctic fell as much as 6.7 percent after Goldman Sachs downgraded its recommendation to neutral from buy.

The investment bank considers the company to be fairly valued, citing limited visibility regarding future catalysts within the BrainTransporter platform. Furthermore, the valuation remains heavily dependent on the commercial success of the Alzheimer's drug Leqembi, according to Bloomberg News.

The price target has been lowered to SEK 355 from SEK 367. The previous target represented the highest level among established research houses.