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Sanofi Earns Price Target Cut After Stopping Breast Cancer Drug Trial

·1 min read
  • Sanofi SA (NASDAQ: SNY) discontinued the development of its oral SERD amcenestrant following a negative interim analysis of the AMEERA-5 trial in front-line ER+ metastatic breast cancer in combination with Pfizer Inc's (NYSE: PFE) Ibrance.

  • The analyst lowered the price target to $52 and maintained the Outperform rating.

  • Related content: Sanofi Ends Development Of Breast Cancer Drug Amcenestrant After Trial Failure.

  • SVB previously expected a 2025 launch for amcenestrant and estimated €1.6 billion 2030E sales. Removing amcenestrant did not change 2022-2023E revenue and EPS estimates.

  • Though 2025-2031E revenue estimates decreased by 0-3%, EPS estimates decreased by 1-7%.

  • The analyst says that after the recent partial clinical hold of tolebrutinib for multiple sclerosis due to liver tox risks, the amcenestrant discontinuation is negative for sentiment for the company's R&D productivity and topline growth prospects.

  • Price Action: SNY shares are down 7.10% at $41.63 on the last check Wednesday.

Latest Ratings for SNY

Date

Firm

Action

From

To

Sep 2021

SVB Leerink

Upgrades

Market Perform

Outperform

Jan 2021

Deutsche Bank

Initiates Coverage On

Sell

Mar 2020

Goldman Sachs

Upgrades

Neutral

Buy

View More Analyst Ratings for SNY

View the Latest Analyst Ratings

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