UCB: Jefferies upgrades recommendation to buy

(CercleFinance.com) - Jefferies on Thursday upgraded its recommendation on UCB from 'hold' to 'buy', raising the target price from 96 to 130 euros.


In a research note devoted to European midcap biopharmaceuticals, the American broker made the Belgian lab its top pick in the sector, followed by Spanish firm Almirall.

In the study, Jefferies explains that it has seen numerous catalysts likely to lift the share price, including its potential arrival on the blockbuster drug market.

The broker cites, among other things, the prospect of a marketing authorisation for Bimzelx (psoriasis) over the course of October, which it believes could reach annual sales of four billion dollars.

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