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

Analysts

Eric Le Berrigaud

IPSEN: The 2021-2022 scenario is hardly attractive for now | NEUTRAL | EUR81 vs. EUR88 (+24%)

IPSEN - NEUTRAL | EUR81 vs. EUR88 (+24%) The 2021-2022 scenario is hardly attractive for now Conference call provided granularity on guidance Pulls and pushes do not provide clear upside scenario Revised numbers point a zero-growth scenario in 2021-2022

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/13/2020

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Eric Le Berrigaud

IPSEN: Ipsen provides a floor case | NEUTRAL | EUR88(+31%)

IPSEN - NEUTRAL | EUR88(+31%) Ipsen provides a floor case Strong performance in Q4 2019 Guidance for 2020 looks very conservative New guidance for 2022 provides a floor but …

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/02/2020

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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

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 ...

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. ...

Eric Le Berrigaud

IPSEN: The 2021-2022 scenario is hardly attractive for now | NEUTRAL | EUR81 vs. EUR88 (+24%)

IPSEN - NEUTRAL | EUR81 vs. EUR88 (+24%) The 2021-2022 scenario is hardly attractive for now Conference call provided granularity on guidance Pulls and pushes do not provide clear upside scenario Revised numbers point a zero-growth scenario in 2021-2022

Eric Le Berrigaud

IPSEN: Ipsen provides a floor case | NEUTRAL | EUR88(+31%)

IPSEN - NEUTRAL | EUR88(+31%) Ipsen provides a floor case Strong performance in Q4 2019 Guidance for 2020 looks very conservative New guidance for 2022 provides a floor but …

Christophe-Raphaël Ganet

Ipsen : Q4 2019 sales and FY 2019 underlying operating profit in line – 2022 guidance reduced – TP lowered to € 69.4 (vs € 83.3)

>Satisfactory 2019 but in line – 2022 guidance reduced by >12% - Q4 sales were up 16.1% to € 701.9m and +16.2% at constant forex. For the full year, sales totaled € 2,576.2m (+15.8% and +14.8% at constant forex – Consensus: € 2,559m est.). Underlying operating profit was € 782.6m, i.e. 30.4% of sales (consensus: € 778m est.). The halt of the palovarotene programme has resulted in an impairment loss of € 669m before The corporate tax. Net profit totaled -€ 50m. With re...

Christophe-Raphaël Ganet

Ipsen : CA T4 2019 et ROC FY 2019 en ligne – Guidances 2022 abaissées – OC abaissé à 69.4 € (vs 83.3 €)

>2019 bon mais conforme – Perspectives 2022 abaissées de >12% - Le CA T4 est en hausse de 16.1% (701.9 M€) et de 16.2% à tcc. Sur l’année, le CA atteint 2 576.2 M€ (+15.8% et +14.8% à tcc. – CS : 2 559 M€e). Le ROC se monte à 782.6 M€, soit 30.4% du CA (CS : 778 M€e). La suspension du programme palovarotène entraine une perte de valeur de 669 M€ av. IS. : le BN ressort à -50 M€. A titre de guidance 2020, Ipsen indique viser un CA de 2 730 M€, soit +6% (pas de split en...

Eric Le Berrigaud

IPSEN: Is it worth making a try? | NEUTRAL | EUR88(+30%)

IPSEN - NEUTRAL | EUR88(+30%) Is it worth making a try? FY 2019 carry limited risk of surprise All eyes turned towards the guidances for 2020 and 2022 Is the consensus already adjusted? A possible trading BUY ahead of the FY results?

1 director sold

A director at Ipsen sold 3,048 shares at 118.208EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/13/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Danjou
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/02/2020

...

Alfred Glaser ...
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Pierre Tegner
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/14/2020

...

Alfred Glaser ...
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Pierre Tegner
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/01/2020

...

Ahmed Ben Salem ...
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/13/2019

...

Nurhayati Wan

Ipsen S.A.

Nurhayati Wan

Ipsen S.A.

Nurhayati Wan

Ipsen S.A.

Nurhayati Wan

Ipsen S.A.

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.

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...

Eric Le Berrigaud

SECTOR | Pharmaceuticals | BG OncoDay 2019: clear upside in early-stage NSCLC

SECTOR | Pharmaceuticals | BG OncoDay 2019: clear upside in early-stage NSCLC At our Annual Oncology Day this year, two KOLs (i) summarized the key learnings from ASCO 2019 and (ii) focused specifically on the advances in lung cancer. Then, out of the five companies presenting, three did so in plenary sessions, and we report here the main messages they conveyed

Eric Le Berrigaud ...
  • Gary Waanders
  • Hugo Solvet
  • Jean-Jacques Le Fur
  • Ross Blair
  • Victor Floc’h

Healthcare: Top Picks Q2 2019: Alcon, Innate, Ipsen and Roche

Healthcare Top Picks Q2 2019: Alcon, Innate, Ipsen and Roche Looking back to Q1 2019 What to expect for Q2 2019

MarketLine Department

Onxeo SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Onxeo SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Onxeo SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This ...

Eric Le Berrigaud

Pharmaceuticals | ESMO 2018: Sequencing Was the Key Word

We synthesise here the main take-away messages from the annual ESMO congress which took place in Munich in October. We present the conclusions in sections organised by organ with three main parts: renal-cell carcinoma (RCC), breast cancer (BC) and lung cancer (NSCLC) with non-uniform levels of innovation and progress. The last section is dedicated to head & neck cancer with encouraging updated data on monatuximab/cetuxima

Charles Pinel

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...

Charles Pinel

Proxy Report - 30/05/2018

Le conseil n'est pas majoritairement composé de membres libres de conflits d'intérêts. La politique de vote de Proxinvest accepte la présence au conseil des principaux actionnaires quelque soit l'indépendance du conseil. Par conséquent, nous recommandons l'approbation du renouvellement d'Anne Beaufour, actionnaire principal de la société via la société Mayroy, mais la nomination de Philippe Bonhomme, jusqu'alors représentant de Mayroy au conseil, ne pourra être soutenue. Par ailleurs, un des deux nouveaux membres indépendants - Paul Sekhri - détient un nombre de mandats trop important pour êtr...

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 €.

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