bioMérieux Shares Slide Further, Less Than 5% Above Annual Low
The Lyon-based in vitro diagnostics specialist is among the most neglected values of the SBF 120 at mid-session this Monday. The stock is suffering from a marked downgrade by a major Swiss bank. The underlying pressure remains heavy after an already difficult quarter in the healthcare sector.
UBS Lowers Price Target from €138 to €80, a Decline of About 42%
UBS lowered its recommendation on bioMérieux from 'buy' to 'neutral' this Monday, while also reducing its price target from €138 to €80. The new target now offers only limited potential above the current price of €72.75, compared to nearly 90% previously. The stock fell by 2.15% during the session, making it one of the largest declines in the SBF 120, while the index itself edged up by 0.16%.
The revision comes in an already tense context for the stock, which has lost 27.25% over three months and 38.4% over a year. The technical rebound observed in mid-May after a multi-year low did not hold, and the underlying momentum remains bearish. Industrially, the company announced at the end of May an investment of more than 250 million euros in Isère to produce its BIOFIRE PCR tests, with the project expected to be operational by 2030.
Stock Struggles at its 20-Day Moving Average, Still Far from Long-Term References
Today's decline brings the stock back to its 20-day moving average, positioned at €72.47, after attempting to break through last week. The distance from long-term references remains significant: the 50-day MA is at €81.18 (10.38% above the current price) and the 200-day MA at €101.34, which is 28.21% higher. The RSI at 47 indicates a lack of clear directional signal, after having dropped below 20 at the end of April.
The support identified at €68.25 remains the reference low zone, already tested during the spring trough. The resistance at €91.25 corresponds to the area that gave way at the beginning of the year. The next factual step for the stockholders will be the ability of the stock to maintain above the 20-day MA, in an environment of deteriorating recommendations.
