RBC announced on Tuesday that it has raised its target price for Ipsen shares from €144 to €148, while maintaining its "outperform" rating on the pharmaceutical group's stock.

In a research note, the Canadian broker highlighted the "solid" sales growth recorded by Iqirvo (elafibranor) in Q1, despite a particularly competitive environment.

Beyond its current indication for the treatment of primary biliary cholangitis (PBC), RBC sees a potentially even more interesting opportunity in primary sclerosing cholangitis (PSC) following the publication of "very promising" Phase II data by the laboratory.

The broker cautiously attributes a 50% chance of success in this new indication, with a possible market launch by 2028, leading it to raise its target price for the stock.


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