Roche: Oddo maintains its estimates
(CercleFinance.com) - Oddo has confirmed its Buy rating on the Roche share, along with its target price of 267 Swiss francs.
Its analysts believe that Roche is trading in line with its sector in terms of 2019 P/E.
The group this morning announced additional survival results (OS) for the IMpower150 study evaluating Tecentriq in combination with CT and/or Avastin.
Oddo pointed out that Roche has announced that the OS is positive for the arm Tecentriq + CT + Avastin vs. the arm Avastin + CT (the data will be announced at a forthcoming congress but is considered as "clinically meaningful")".
Tecentriq represents an opportunity worth 3.5 billion Swiss francs, taking into account the likelihood of success in lung cancer; a market that analysts estimate is worth over 15 billion dollars.
Oddo will not change its estimates following this announcement. It will wait for data to form a better idea, although this market may be rather fragmented according to some biomarkers.
Copyright (c) 2018 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.
Its analysts believe that Roche is trading in line with its sector in terms of 2019 P/E.
The group this morning announced additional survival results (OS) for the IMpower150 study evaluating Tecentriq in combination with CT and/or Avastin.
Oddo pointed out that Roche has announced that the OS is positive for the arm Tecentriq + CT + Avastin vs. the arm Avastin + CT (the data will be announced at a forthcoming congress but is considered as "clinically meaningful")".
Tecentriq represents an opportunity worth 3.5 billion Swiss francs, taking into account the likelihood of success in lung cancer; a market that analysts estimate is worth over 15 billion dollars.
Oddo will not change its estimates following this announcement. It will wait for data to form a better idea, although this market may be rather fragmented according to some biomarkers.
Copyright (c) 2018 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.