(CercleFinance.com) – Stifel renewed its buy recommendation on Roche on Monday, with a target price of 4,100 Swiss francs, following the publication by the Basel laboratory of quarterly figures deemed to be ‘mixed’.
In a reaction note, the analyst points out that the Swiss biopharmaceutical group’s better-than-expected first quarter sales are mainly due to the performance of its diagnostics branch, whose revenues rose by 24%.
Conversely, the results of the pharmaceuticals division proved to be more disappointing, underlines Stifel, with a turnover that came out slightly below consensus expectations, a difference which he justifies by the weaker than expected sales of Lucentis ( age-related macular degeneration) and Tecentiq (bronchial cancer).
Beyond the activity figures unveiled this morning, the intermediary retains from the publication the announcement of the failure of its phase II study in breast cancer, a new disappointment after the setback already suffered by the trial Skyscraper-02 in lung cancer.
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