(News Bulletin 247) – Deutsche Bank announced on Wednesday that it had raised its recommendation on the share of Belgian biopharmaceutical group UCB from ‘hold’ to ‘buy’ with a price target raised from 85 to 100 euros.
In a research note, the analyst explains that its increase comes after the ‘solid’ results published for the first half and before the highly anticipated decision of the American FDA on the approval of Bimzelx in the treatment of psoriasis, expected in here at the end of September.
If he notes that this meeting is not without risk given the postponements of product launches that may have dotted the history of the laboratory, the intermediary believes that the rest of the file is relatively low risk.
The market is indeed expecting a modest start for Bimzelx, he argues, adding that there is some skepticism surrounding the achievement of the 2025 targets as the catalysts looming for 2024, notably in lupus, are underestimated by the market.
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