Biomérieux Advances 2% and Stabilizes Its Trajectory
The Lyon-based in vitro diagnostics specialist finds some breathing space in Thursday's session, after several weeks of continuous pressure. The stock attempts to stabilize its trajectory as analysts make marginal adjustments to their parameters, in a well-oriented Parisian market.
A 1.98% Rebound That Still Struggles to Erase the Quarterly Drop
The bioMérieux stock gains 1.98% at €72.20, while the SBF 120 index is up 0.82% during the session. The stock returns to its 20-day moving average at €72.50, which it had lost following the downgrade by a major Swiss bank in early June, already commented on earlier this week. The backdrop remains heavy: the price still moves about 10% below its MM50 (€79.91) and about 28% below its MM200 (€100.51), reflecting a nightmarish quarter with a decline of 26.92% over three months and 38.81% over a year. The RSI at 39 remains neutral but trends towards the lower zone, without any seller exhaustion signal. Thus, today's rebound mitigates part of the quarterly decline without changing the underlying dynamics. During the session, the rise places the stock in the mid-range of the SBF 120, far from the surges of Abivax or Rémy Cointreau leading the index.
TP Icap Midcap Trims Target to €93; Biomérieux Announces Creation of New PCR Test Production Unit in Isère
On the consensus side, TP Icap Midcap lowered its price target from €97.50 to €93.00 on June 2, while maintaining its 'hold' recommendation. At the current price, the new target offers a theoretical potential of about 29% relative to the current price, without any opinion change. On the industrial front, the group announced at the end of May an investment of over €250 million to create a new unit dedicated to BIOFIRE PCR tests in Isère, with about 400 direct jobs and a scheduled service launch in 2030 (detailed in our dispatch of May 29). This investment targets European needs for infectious disease diagnostics, in a segment where competition remains fierce. The next support level identified below the price is €68.25; above, the MM20 at €72.50 is the first technical hurdle to overcome to confirm the rebound.
