Sanofi: Berenberg cuts target price
(CercleFinance.com) - On Wednesday Berenberg maintained its "hold" rating on Sanofi shares, while reducing its target price for them from 110 euros to 91 euros.
In a study of the European pharmaceutical sector, the analyst justifies his downgrade by the prospect of the laboratory having to pay 12 billion euros to settle trials concerning Zantac.
The broker points out that this sum exactly matches the market capitalisation that evaporated this summer with increasing fears amongst investors surrounding the case.
In addition, a new breast cancer treatment has failed, and clinical trials of an experimental multiple sclerosis drug have been halted.
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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 study of the European pharmaceutical sector, the analyst justifies his downgrade by the prospect of the laboratory having to pay 12 billion euros to settle trials concerning Zantac.
The broker points out that this sum exactly matches the market capitalisation that evaporated this summer with increasing fears amongst investors surrounding the case.
In addition, a new breast cancer treatment has failed, and clinical trials of an experimental multiple sclerosis drug have been halted.
Copyright (c) 2022 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.