Sanofi: Oddo BHF confirms rating
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Sanofi shares, with an unchanged target price of E119.
The analyst reports that the share price rose over 3% yesterday following the publication of positive results from a phase 2b study evaluating duvakitug for the treatment of patients suffering from ulcerative colitis and Crohn's disease.
The study achieved its primary endpoint of clinical remission.
The broker considers these results 'encouraging' and believes that duvakitug has nothing to envy to tulisokibart, the antibody of the same pharmaceutical class developed by Merck.
The results are convincing and should help reassure the market about the evolution of Sanofi's pipeline, it adds, with its valuation remaining 'attractive', with a 2025e P/E of 10.7x, which represents a 16% discount to its peers.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The analyst reports that the share price rose over 3% yesterday following the publication of positive results from a phase 2b study evaluating duvakitug for the treatment of patients suffering from ulcerative colitis and Crohn's disease.
The study achieved its primary endpoint of clinical remission.
The broker considers these results 'encouraging' and believes that duvakitug has nothing to envy to tulisokibart, the antibody of the same pharmaceutical class developed by Merck.
The results are convincing and should help reassure the market about the evolution of Sanofi's pipeline, it adds, with its valuation remaining 'attractive', with a 2025e P/E of 10.7x, which represents a 16% discount to its peers.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.