AstraZeneca PLC - September 2025 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Morning Notes : ABN NA, ARGX BB, CPINV BB, IBAB BB, ONTEX BB, EXO NA

: ABN NA, ARGX BB, CPINV BB, IBAB BB, ONTEX BB, EXO NA

argenx Vyvgart phase 3 in TED stopped due to lack of efficacy

argenx announced that the phase 3 (UplighTED) studies evaluating Vyvgart subcutaneous (SC) in adults with moderate to severe thyroid eye disease (TED) will be discontinued following a pre-specified unblinded interim analysis from patients completing 24 weeks of treatment. The decision to stop the trial due to lack of efficacy in TED is disappointing, however, the company notes that its pipeline strategy anticipates attrition. Of the 2026 phase 3 readouts, TED was the only program where argenx le...

Thematic - 2026 Outlook - "5 More Years" (55pgs)

For access to the full note, please contact Naresh Chouhan ( ) With EU Pharma (ex-Novo) now having reached decade high valuations vs EuroStoxx600, we believe the sector has broken out & the sustainability of the growth profile will now generate continued strong performance. Consensus 5yr sales & EPS CAGR’s stand at 4% & 7% for 15x 2026 PE. We show there is upside to this from underestimated pipelines where cons. rarely fully models “monster” drugs & from M&A which we expect to be strong at JPM ...

Morning Notes : ABI BB, AGS BB, GLPG NA, IBAB BB, UCB BB

: ABI BB, AGS BB, GLPG NA, IBAB BB, UCB BB

UCB Detailed results from Fintepla in CDD strengthen epilepsy franchis...

UCB presented detailed results of the positive phase 3 GEMZ study with Fintepla in CDKL5 deficiency disorder (CDD). The drug showed an estimated 52.7% median reduction in countable motor seizure frequency (CMSF) compared with placebo during a 14 week titration and maintenance period and a favourable safety profile. We view this as highly encouraging in this refractory epilepsy population. Given the infantile onset of CDD, we will be curious to see as of which age, patients could be included in t...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 12/05/2025

UCB : Upgrade de la guidance 2025 dans l’attente de plus d’éléments co...

UCB : 2025 guidance upgrade pending more details on profitability tren...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 05/12/2025

Benelux Morning Notes

Ahold Delhaize: Peer Kroger 3Q25 results Kinepolis: Warner and Netflix enter exclusive deal negotiations UCB: FY25 guidance raised on Bimzelx's exceptional performance

Morning Notes : UCB BB

: UCB BB

UCB Announces another FY25 guidance upgrade

UCB announced an additional upgrade to its FY25 financial guidance, where it now expects revenue to exceed € 7.6b, representing +24% y/y (previously at least € 7b), and adj. EBITDA margin to be higher than 31% (previously at least 30%). This is the company's second guidance upgrade this year and shows that UCB's commercial momentum continues its upward trajectory supported by its 5 key growth drivers, including lead product Bimzelx which saw strong momentum in HS, as well as a favourable payer m...

Morning Notes : ARGX BB, SOLV BB, PHVS US, ENRGY BB

: ARGX BB, SOLV BB, PHVS US, ENRGY BB

argenx A catalyst rich year ahead

argenx is set for a catalyst rich year ahead and has five phase 3 trial results with its lead product, Vyvgart, as well as from the next in line product empasiprubart. Those programs are supported by positive proof of concept data, and successful phase 3 results could expand the company's commercial opportunity and bring it closer to its Vision 2030 target of having 50K patients on treatment. Going into 2026, we believe continued commercial momentum and pipeline expansion potential could bring a...

Dynamic Top Pick List How to start 2026?

How to start 2026? We have selected for the KBC Securities Dynamic Top Pick List 12 large-cap companies — AB InBev, Aedifica, Argenx, ASMi, Azelis, DEME, D'Ieteren, Shurgard, Sofina, Vopak, WDP, and Wolters Kluwer — along with 3 small and mid-cap names (under €1.5bn in market capitalization): Corbion, EVS, and IBA. So, going into 2026, we maintain a balanced approach in our Dynamic Top Pick List, featuring 8 cyclical and 6 defensive stocks, with a particular emphasis on value stocks that have b...

Johnson & Johnson: 1 director

A director at Johnson & Johnson bought 1,250 shares at 206.150USD and the significance rating of the trade was 82/100. 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 cle...

Argen X SE: 1 director

A director at Argen X SE sold 17,588 shares at 790.350EUR and the significance rating of the trade was 92/100. 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 sho...

Johnson & Johnson - September 2025 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.