Sanofi Shares Drop 2% Approaching Key Support at €72.72
This afternoon, the pharmaceutical company weighs on the CAC 40 in a Parisian market itself in decline. The stock sinks below its short-term moving averages, nearing a technical threshold monitored by traders.
Price Moves Away from All Moving Averages and Tests €72.72 Support
Sanofi shares fell 2.11% to €73.30 in early afternoon, down from a previous close of €74.88. The stock is among the biggest losers in the CAC 40, which itself has slightly declined by 0.13%. Today's movement has pushed the stock below its three moving averages: 3.65% below the MM20 (€76.08), nearly 5% below the MM50 (€77.12), and 9.42% below the MM200 (€80.92), a gap that reflects the pressure that has been building for several weeks.
At €73.30, the price is approaching the support level identified at €72.72, which is less than 1% below the current levels. The RSI at 44 remains in a neutral zone, with no overselling signal. The weekly loss is 3.57%, bringing the three-month performance to -4.67% and the annual performance to -13.61%.
Busy Clinical Schedule and Valuation Around 8.8 Times Earnings
The decline follows recent setbacks in the pipeline. On June 10, the company announced the discontinuation of the phase 3 MOBILIZE study on riliprubart after an unfavorable interim analysis, which had impacted the stock during the corresponding session. Several regulatory advancements have since mitigated this negative signal: the FDA's accelerated approval of Tzield for children aged 8-17 on June 15, and the European green light for the subcutaneous formulation of Sarclisa in early June.
According to the consensus of analysts surveyed, the stock is trading at about 8.8 times the earnings for the current fiscal year and 8.3 times those of the next fiscal year, with an expected growth in earnings per share of 6%. The next technical milestone to watch remains the €72.72 zone, whose support will condition the short-term dynamic.
