(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on Genfit and raises its target price from 8.8 to 9.3 euros, despite the good results of the phase III study unveiled the day before by Cymabay, the main competitor of Ipsen/Genfit in primary biliary cholangitis.
‘There are real differentiations, especially on pruritus, but the primary criterion on the reduction of ALP (alkaline phosphatase) is, after reprocessing, very good for French companies’, he underlines.
“In terms of time to market, elafibranor therefore remains mechanically ahead of a few months”, continues the analyst, who does not modify his market assumptions with a launch of this product in 2024 for a peak in sales of 411 million euros. euro in 2030.
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