UCB: BarCap ups target price, but still 'underweight'

(CercleFinance.com) - Barclays Capital has raised its target price for Belgium's UCB to 61.
5 euros, while maintaining its "underweight" rating on the stock, after Dutch rival argenx presented topline phase 2 data in primary immune thrombocytopenia (ITP) on Tuesday.

While optically argenx's efficacy may look superior at this stage, BarCap has raised its peak sales forecast on UCB's rozimab by 20% after completing a more detailed analysis on the monoclonal antibody, it said.

However, Barclays prefers to reiterate its "underweight" rating, as potential longer term upside from rozimab is tempered by concerns over UCB's base business.

UCB shares were down slightly (-0.1%) at 77.8 euros on Friday.

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