Ipsen: JPMorgan sees 3 potential catalysts, raies TP

(CercleFinance.com) - On Monday JPMorgan placed the Ipsen stock on its "catalyst watch" list because of the pleasant surprises that it believes the French biopharmaceutical group's pipeline could hold.


In a report, the analyst explains that he sees three catalysts for the next six to 12 months that could boost the laboratory's share price.

While JPMorgan acknowledges that the first event, the publication of Cabometyx data in lung cancer before the end of the year, could have only a limited impact on the stock market, it believes that the following events could be much more promising.

These include data on Onivyde in pancreatic cancer, expected at ASCO in February, which could generate a potential 5% upside.

The same applies for elafibranor in primary biliary cholangitis (PBC), for which results are expected in Q2 2023.

Although it has placed the stock on its "catalyst watch" list and raised its target price from 91 euros to 115 euros, JPMorgan is still maintaining a "neutral" opinion on the stock.

Ipsen shares are a big winner today - up 5% at just over 109 euros.


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