Ipsen is global biotechnology specialty care company. Co. engages in research, development, manufacture and sale of pharmaceutical products for human healthcare. Co.'s product portfolio includes pharmaceutical products marketed around the world to specialists working in its targeted therapeutic areas (oncology, endocrinology, neurology and haematology). These products are specialist care drugs. Co. also markets products in other therapeutic areas including gastroenterology, cardiovascular and cognitive disorders. These products are primary care drugs. Co.'s brand names include Decapeptyl®, Somatuline®, Dysport®, Nutropin Aq®, Smecta®, Forlax®, Nisis®,Adrovance®, Exforge® and Adenuric®.
  • TickerIPN
  • ISINFR0010259150
  • ExchangeEuronext Paris
  • SectorPharmaceuticals & Biotechnology
  • CountryFrance
Jérôme VINERIER

Short term view - IPSEN : Falling prices.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €116.00. The bearish trend would be challenged above €142.10.

Jérôme VINERIER

Analyse court terme - IPSEN : Les prix baissent.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 116,00 €. La tendance baissière serait remise en cause au-dessus de 142,10 €.

Jérôme VINERIER

Short term view - IPSEN : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €116.00, then €103.90. Passing €142.10 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - IPSEN : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 116,00 €, puis 103,90 €. Le franchissement de 142,10 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Analyse moyen terme - IPSEN : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 115,64 €. La tendance serait remise en cause par la rupture de 96,60 €.

Eric Le Berrigaud

Ipsen: Exelixis’ Q2 figures: Cabometyx continues to grow, with plus and minus

Brief Comment - Ipsen: (BUY, Fair Value EUR150 (+6%)) Exelixis’ Q2 figures: Cabometyx continues to grow, with plus and minus

Eric Le Berrigaud

IPSEN: Challenging some modelling assumptions - Contact | BUY vs. NEUTRAL | EUR96 vs. EUR81 (+32%)

IPSEN - BUY vs. NEUTRAL | EUR96 vs. EUR81 (+32%) Challenging some modelling assumptions - Contact A change in perspective Addressing issues one after the other An alignment of planets looks possible although still speculative Half-full or half-empty, is this the same glass?

Christophe-Raphaël Ganet

ODDO : Update

>Resilience confirmed: Q1 sales: +6% - To date, the sector has reported around 6% growth in Q1 revenues (Q2 will be more impacted: -10%e in our models). At the same time, we have lowered, on average, our projections by around 3% on 2020e revenues and by 9% on 2020e OIR.Finally, in the crisis, half of the issuers have, at this stage, cancelled the payment of their dividend.Performances: +14% (over the last 2 months) - At the same time, the sector'...

Christophe-Raphaël Ganet

ODDO : Update Santé

>Résilience plutôt confortée: CA T1: +6% - A ce jour, le secteur a publié une croissance d’environ 6% des CA T1 (T2 sera plus impacté : -10%e dans nos modèles). Dans le même temps, nous avons abaissé, en moyenne, nos projections d’environ 3% sur le CA 2020e, et de 9%, au niveau du ROC 2020e.Enfin, dans la crise, la moitié des émetteurs ont, à ce stade, annulé le versement de leur dividende.Performance boursière: +14% (sur les 2 derniers mois) - P...

Christophe-Raphaël Ganet

Ipsen : Feedback from conference call: deterioration in newsflow runs out, Buy vs Neutral

>Resilience and hope - Highlights:1- Defensive business: the group’s business was described by CEO/CFO (by franchise), as capable of strong resilience (Q1 sales: +8.7% cc, of which +12.5% in Specialty).The lead taken by Somatuline® at end March (+19.5%) compared to expectations tends to demonstrate that the drug is gaining market share (+20% est. in the US and >+10% est. in Europe) and is holding up well against the generic drug octreotide. The generic vers...

Christophe-Raphaël Ganet

Ipsen : Feedback conf call : arrêt de la dégradation du newsflow - Achat vs Neutre

>De la résistance et de l’espoir - Voici les principaux éléments que nous retenons:1- Business défensif. Description par le CEO/CFO, d'une activité (par franchise), donnant le sentiment de résilience forte (CA T1 : +8,7% à tcc. dont +12,5% sur les Spécialités).L’avance prise, à fin mars, par Somatuline® (+19,5%) par rapport aux attentes tend à démontrer que le produit gagne des PdM (+20%e aux USA et >+10%e en Europe) et résiste bien au générique d'octreotide...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 24/10/2019 - Intrum, Ford - FR

Intrum (Achat) - 9M-19 : EBIT de SEK4,2 mds (€391m, +41,1%) Ford (Achat) : Abaisse ses perspectives pour 2019 Scor (Achat) - 9M-19 : Primes brutes de €12,1 mds (+3,2% à tcc) SEB (Achat) - 9M-19 : Résultat d’exploitation de SEK17,8 mds (€1,7 md, +4,8%) Constellium (Achat) : Revoit à la baisse ses objectifs 2019 Edenred (Achat) : Vise une croissance organique d’EBITDA >10% jusqu’à 2022 Europcar (Vente vs Achat) : Abaisse ses perspectives pour 2019 Schmolz + Bickenbach : Prévoit une augmentation de capital de CHF189m à CHF350m ...

Maxime Kogge

Ipsen : Un rendement faible mais suffisant vu le profil de risque équilibré. Achat confirmé sur l’obligation 2023

L’obligation Ipsen a connu un parcours satisfaisant depuis l’émission en 2016. La prime de 70bps sur les obligations BBB à l’émission s’est nettement resserrée jusqu’à fin 2018 dans un contexte d’aversion au risque. Toutefois, l’obligation affiche de nouveau depuis le début de l’année une prime de l’ordre de 40bps. Le newsflow a en effet été mitigé au S1 avec 1/ l’annonce de l’acquisition de Clementia, une opération prometteuse à long terme mais pénalisante à court terme sur les ...

Maxime Kogge

Ipsen : Low but sufficient yield in light of balanced risk profile. Buy confirmed on 2023 bond

The bond has seen a satisfactory track record since its 2016 issuance. The 70bp spread premium on the JPM 'BBB' index vs. the bond issue in June 2016 narrowed significantly until the end of 2018. However, the bond has anew offered a spread premium of around 40bps year to date. The newsflow was mixed with 1/ the announcement of the Clementia acquisition on 25 February, a promising deal in the long term but detrimental for ratios in the short term; 2/ an increase in the generic thr...

Ipsen : 2017 looks promising, after a record year in 2016

We have a stable credit opinion on the issuer. Ipsen had a record year in 2016, marked by strong sales growth in its specialty care division, driven by: 1. Somatuline’s commercial success, particularly in the US, and 2. gradual recovery in Primary care through its shift towards an OTx model. Despite investments to support the launch of Cabometyx®, profitability also improved in 2016. Ipsen is adopting a resolutely optimistic tone for the current year, expecting robust growth on the back of numerous ongoing developments. In addition, Ipsen has enriched its pipeline in Oncology and Neurosciences...

Ipsen : Un exercice 2017 prometteur, après une année 2016 record

Nous avons un avis crédit Stable sur l’émetteur. Ipsen a réalisé une année 2016 record, marquée par la forte croissance des ventes de sa division Médecine de Spécialité portée par : 1. le succès commercial de Somatuline notamment aux US, et 2. le redressement progressif de l’activité Médecine Générale grâce à son repositionnement vers un modèle OTx. Malgré les investissements consentis pour le lancement de Cabometyx®, la rentabilité a également progressé en 2016. Ipsen adopte un ton résolument optimiste pour cette année, attendue en forte croissance grâce aux nombreux développements en cours. ...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/04/2020

...

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 04/05/2020 Date Performance depuis l’entrée Date Performance depuis l’entrée

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/05/2020

...

Alain William ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/23/2020

We estimate that net current cash flow per share for the property companies we cover will be reduced on average by -11.3% in 2020e and -6.0% in 2021e. Retail property companies are likely to be hit the hardest while office and healthcare property groups should prove more resilient. Our Top Picks against this backdrop are Gecina and Colonial in office property, Cofinimmo in healthcare property and Klépierre in retail property. We downgrade Merlin Properties from Buy to Neutral. - ...

Despite a better risk assessment and improving to Neutral, IPSEN SA remains under pressure

IPSEN SA (FR), a company active in the Pharmaceuticals industry, improves its market behaviour and slightly increases its general evaluation. The independent financial analyst theScreener just upgraded the stock market behaviour as moderately risky. At a fundamental level, theScreener confirms 1 out of 4 possible stars; the general evaluation is slightly increased to Neutral but the title remains under pressure. As of the analysis date October 8, 2019, the closing price was EUR 85.10 and its target price was estimated at EUR 76.36.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Ipsen – AGM 29 May 2020

Governance   On 18 December 2019, Ipsen announced that David Meek has resigned as the company's CEO and will step down from the Board of Directors, effective 31 December 2019. The Board has decided to appoint Aymeric Le Chatelier, currently CFO as Interim CEO to replace David Meek as of 1 January 2020. The Board has asked the Nominations Committee, chaired by Carol Xueref, to conduct a search process in order to identify the future CEO. Remuneration   As a result of his resignation, David Meek lost his rights to the 2018 and 2019 LTIP and to the supplementary defined benefit pension, but ...

Ipsen - Assemblée générale des actionnaires du 28 mai 2019

Le conseil n'est pas majoritairement composé de membres libres de conflits d'intérêts. Par conséquent, parmi les renouvellements proposés, seul le Président du conseil sera soutenu en raison de la séparation des fonctions avec la Direction Générale (résolutions 5 à 7). En ce qui concerne la rémunération 2018 du Directeur Général, l'absence de communication des taux de réalisation de chacun des critères financiers du bonus constitue un manque rédhibitoire pour Proxinvest. Par ailleurs, l'attribution d'actions gratuites est basée sur des critères non vérifiables et qui sont calculés sur une pér...

Expert Corporate Governance Service (ECGS)

Ipsen -AGM and EGM 28 May 2019

The majority of the Board is not composed of independent members. Consequently, among the proposed renewals, only the Chairman of the Board will be supported due to the separation of functions with the Executive Management (resolutions 5 to 7). With regard to the 2018 remuneration of the CEO, the failure to communicate the achievement rates of each of the financial criteria related to the bonus constitutes a fundamental flaw for ECGS. In addition, the allocation of performance shares is based on criteria that cannot be verified and are calculated over a period of only two years, which is insu...

Ipsen – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Proxy Report - 30/05/2018

Board of directors (resolutions 4 to 9) The independence rate of the Board amounts to only 38.5%. Each of the three largest shareholders should have at least one representative regardless of the board's independence. Accordingly, we recommend that shareholders approve the re-election of Anne Beaufour but not Philippe Bonhomme. A new member, Paul Sekhri, is chairman of two listed companies and member of the Board of two others listed companies. Therefore, we have concerns about his time commitment. Remuneration (resolutions 10 to 13) The lack of disclosure of the achievement rates of each cr...

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