L’après epratuzumab - NEUTRE vs SOUS-REVUE - OC 67€ (vs S.R)
Nous ajustons ce matin notre objectif de cours et notre recommandation après une courte période de mise sous revue suite à l’échec d’epratuzumab. Après une publication solide de ses résultats semestriels, nous ajustons principalement l’effet change au niveau des ventes et de la marge ainsi que la dynamique de ventes de Vimpat et Keppra. En parallèle, nous enlevons toutes nos estimations d’epratuzumab qui représentaient 3€ dans notre modèle. Avec un objectif de cours de 67€ par action et un PE 15 de 35x et 16 de 27x nous recommandons d’être NEUTRE sur la valeur.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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