The research firm reaffirmed its add recommendation on the pharmaceutical group's stock and slightly raised its price target to €204 from €197.
Analysts explain that while their estimates have risen by double digits, the price target is being increased to a lesser extent due to short- and medium-term risks weighing on the group. Among the risks are the impact of generics on Somatuline starting in 2027, as well as the expiry of Carbometyx's patent beginning in 2029.
The recommendation nonetheless remains positive thanks to the expansion of the late-stage development portfolio, indication extensions, and potential external growth opportunities.
As for AlphaValue's earnings forecasts, they have improved thanks to solid performance across most franchises in the first half of the year. Analysts note that the Rare Diseases portfolio has almost doubled, while Oncology and Neuroscience posted double-digit growth.
Ipsen specialises in the research, development, manufacture and marketing of specialty medicines. Net sales by therapeutic area break down as follows:
- oncology (69.2%);
- neuroscience (20.3%);
- rare diseases (10.5%).
At the end of 2025, the group had 7 research and development centers located in France (2), the United Kingdom (2), China (2) and Ireland, and 5 manufacturing sites worldwide.
Net sales are distributed geographically as follows: France (8%), Europe (31.7%), the United States (32.9%), North America (2.2%) and other (25.2%).
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