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DBV Technologies: Bryan Garnier cuts target price.

(CercleFinance.com) - In a report released on Tuesday, Bryan Garnier reduced its target price on DBV Technologies from 105 euros to 86 euros, while confirming its "buy" rating.

With the stock collapsing over 40%, hammered in the market for mixed results for PEPITES (Peanut EPIT Efficacy and Safety), a phase III study to assess the efficacy and safety of use of Viaskin Peanut in children of 4 to 11 years old, the broker considers this reaction as over-exaggerated.

The broker states that it still believe that Viaskin Peanut will be firmly approved by the US FDA. Stallergenes Oralair and ALK Abello Odactra have indeed all three experienced such a misfortune before obtaining such FDA approval, it points out.

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