Points d’étape sur le portefeuille d’Immuno Oncologie - ACHAT - OC 103€ (vs 115€)
La société a organisé hier après midi une conférence téléphonique dans le but de réaliser une revue globale de son portefeuille d’Immuno Oncologie. Aucune annonce clinique spécifique n’a été révélée durant cette présentation. Bien que nous ne modifiions pas nos estimations à ce stade, la pression récente des marchés nous conduit à abaisser significativement notre objectif (WACC augmenté et SOTP abaissée) qui passe de 115€ à 103€. Nous maintenons cependant notre recommandation à ACHAT sur la valeur avec en ligne de mire les résultats de phase III d’evofosfamide avant la fin de cette année.Merck is a global science and technology company based in Germany. Co. diversifies its activities into four business divisions: Merck Serono, Consumer Health, Performance Materials and Merck Millipore. The Merck Serono develops, manufactures and markets prescription drugs to treat cancer, multiple sclerosis, infertility, growth disorders, and selected cardiovascular and metabolic diseases. The Consumer Health manufactures and markets over-the-counter drugs addressing health themes such as mobility, women's and children's health, cough and cold. Performance Materials is a specialty chemicals business. The Merck Millipore is the supplier of products and services for the life science industry.
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Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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