Roche: Bank of America maintains 'buy'
(CercleFinance.com) - Bank of America maintains a "buy" rating on the shares of Swiss drugmaker Roche, with a target price of 360 Swiss francs, citing the company's "busy" 2020 pipeline year.
In a note to clients, the broker said multiple Phase III readouts are due this year, in particular regarding spinal muscular atrophy drug risdiplam, Crohn's disease treatment etrolizumab, cancer drug ipatasertib or eye drug Lucentis.
According to BofA, data represents estimated peak sales potential of approximately 10 billion Swiss francs, compared to just 2 billion to 3 billion Swiss francs currently expected by the consensus - most of which is from risdiplam.
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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.
In a note to clients, the broker said multiple Phase III readouts are due this year, in particular regarding spinal muscular atrophy drug risdiplam, Crohn's disease treatment etrolizumab, cancer drug ipatasertib or eye drug Lucentis.
According to BofA, data represents estimated peak sales potential of approximately 10 billion Swiss francs, compared to just 2 billion to 3 billion Swiss francs currently expected by the consensus - most of which is from risdiplam.
Copyright (c) 2020 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.