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Sanofi: in green, a broker confirms his recommendation on the stock

( - Sanofi gained nearly 0.
6%, one of the CAC40's biggest gains of the day, as Oddo BHF announced this morning that it was maintaining its 'outperform' rating on the stock, with an unchanged target price of 94 euros.

The research firm points out that Sanofi this morning published the results of its second phase 3 trial evaluating Dupixent in the treatment of chronic bronchitis (COPD).

The results of the trial are "positive and consistent", and showed a 34% reduction in acute moderate to severe COPD exacerbations over a 52-week period.

"The publication of these results comes almost 6 months ahead of our expectations, and should provide the market with some reassurance ahead of the R&D day scheduled for December 7", stresses the analyst.

Oddo BHF points out that these clinical results confirm the Group's ambitions in the treatment of COPD, and that the consensus is already for adjusted sales of ?1.5 billion in 2030 in this indication (?1.8 billion unadjusted).

Upward revisions are likely to be measured, but positive sentiment on the stock this morning was exacerbated by its Q3 profit warning. The Group plans to file an extension of the indication before the end of the year', concludes the broker.

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