Strong Buy Rating for Sanofi on Dupixent’s Expansion and Pipeline Potential

Bank of America Securities analyst Graham Parry maintained a Buy rating on Sanofi (SNYNF – Research Report) today and set a price target of €122.00.

Graham Parry has given his Buy rating due to a combination of factors including Sanofi’s growth prospects and promising pipeline developments. One significant aspect bolstering the Buy rating is the potential expansion of Dupixent, a key product for Sanofi, which is expected to see increased penetration and sales worldwide. Furthermore, the anticipated approval of Dupixent for additional indications, such as Chronic Obstructive Pulmonary Disease (COPD), presents a substantial growth opportunity. Parry notes that if Dupixent is approved for new indications, it is launch-ready, indicating a strategic readiness by Sanofi to capitalize on these approvals.
In addition, Sanofi is currently contracting for the year 2025, displaying confidence in maintaining favorable formulary access amidst a competitive landscape. Parry underscores that the competition appears undifferentiated in certain indications, suggesting that Dupixent’s broader range of indications could help it maintain a dominant position. With these factors in mind, alongside a likely mid-year guidance upgrade and the strategic separation of the Consumer Healthcare division, Parry maintains a positive outlook on Sanofi’s stock, which he believes is undervalued considering the company’s growth trajectory and pipeline strength.

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Sanofi (SNYNF) Company Description:

Sanofi engages in the research, production and distribution of pharmaceutical products. It operates through the following business segments: Pharmaceuticals, Consumer Healthcare, and Human Vaccines. The Pharmaceuticals segment comprises the commercial operations of the following global franchises: specialty care, diabetes & cardiovascular, established prescription products and generics, together with research, development and production activities. This segment also includes all associates whose activities are related to pharmaceuticals. The Consumer Healthcare segment comprises, for all geographical territories, the commercial operations for its Consumer Healthcare products, together with research, development and production activities dedicated to those products. The Vaccines segment comprises, for all geographical territories, the commercial operations of Sanofi Pasteur, together with research, development and production activities dedicated to vaccines. The company was founded in 1973 and is headquartered in Paris, France.