Echec d’epratuzumab en phase III - SOUS REVUE vs NEUTRE - OC S.R (vs 68€)
Comme attendu, la société a annoncé ce matin ses résultats de phase III évaluant epratuzumab dans le traitement du lupus. Malheureusement les résultats se sont avérés décevants. En effet, les critères primaires d’évaluations aux différents dosages du composé n’ont pas été atteints en comparaison aux patients sous placebo. Bien que le consensus et nous même appliquions une POS faible sur le composé (40% selon Invest Securities / 3€ de notre valorisation), la valorisation du marché actuelle l’intégrait plus fortement selon nous (PE 16 : 27x). Nous mettons notre recommandation et notre objectif sous revue en attendant la publication des résultats semestriels ce vendredi.UCB is a global biopharmaceutical company focused on severe diseases in two therapeutic areas, namely central nervous system disorders and immunology. In the area of central nervous system disorders, Co. is focused on advanced Parkinson's disease, epilepsy, restless legs syndrome and epilepsy. In the area of immunology disorders, Co. is focused on rheumatoid arthritis, axial spondyloarthritis, psoriatic arthritis, systemic lupus erythematosus, juvenile idiopathic arthritis, post-menopausal osteoporosis, systemic lupus erythematosus and immunological diseases.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
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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