Genfit, the SBF 120 laggard, plunges 12% after its Q3 results
The Lille-based biotech specialising in liver and metabolic diseases collapses mid-session, following a publication whose figures lend themselves to two readings. A new analyst rating was issued in the morning, in a Paris market heavily tilted to the downside.
Iqirvo royalties sharply up, but revenue declining
The Genfit share falls 12.06% to €10.06, placing it among the biggest decliners in the SBF 120, which itself drops 1.66%.
After a gain of nearly 9% over one month, the stock is trading at its 200-day moving average (MM200) of €10.10, and it has fallen below its 50-day moving average (MM50) of €10.58. The session follows the publication of the third-quarter financial information on November 5.
Over nine months, royalties paid by Ipsen on Iqirvo sales rise 188% to €36.3 million.
Total revenue nonetheless declines to €36.4 million, compared with €39.2 million a year earlier, due to the absence of a milestone payment booked in 2026, whereas 2025 included €26.6 million. Cash stands at €95.6 million as of September 30, compared with €113.8 million at the end of June.
Portzamparc raises its target to €23 while the stock trades at €10.06
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In this context, Portzamparc published a price target of €23 today, up from €22.40 previously, with a buy rating from analysts. This target is more than 130% above the day's price. The company considers its cash sufficient to finance its activities beyond the end of 2028.
At the time of the November 5 publication, it also anticipated the possible receipt of a new commercial milestone payment, and the stock remains up 185.8% over one year.
The market, for its part, is experiencing a risk-averse session: the CAC 40 loses 1.65% following the Wall Street correction and the drop in technology stocks in Asia. The support at €7.83 and the resistance at €11.46 now frame the stock.
SectorPharmacie et biotechnologies›Biotechnologies
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 36,4 millions d'euros
Quarterly revenue: 36,4 millions d'euros
Revenue growth: -7,1 %
Guidance from the release
« conforte GENFIT dans son anticipation de la réception possible d'un nouveau paiement d'étape commercial » ; « permettent un financement des activités au-delà de fin 2028 »
Risks mentioned
Dépendance envers Ipsen pour la majorité des revenus (redevances sur ventes d'Iqirvo), qui représente 99,7% des revenus de redevances
Paiements d'étape commerciaux futurs soumis à conditions réglementaires et commerciales incertaines
Besoin de financement au-delà de 2028 dépendant de la croissance des ventes d'élafibranor et de l'adoption commerciale des technologies NIS™
Opportunities identified
Croissance des ventes d'Iqirvo auprès d'Ipsen (188% YoY sur redevances) avec pic de ventes révisé à 1 milliard d'euros
Medicare a approuvé le remboursement du test NASHnext® en août 2026, ouvrant un marché potentiel estimé à plus de 1,5 milliard de dollars à horizon 2033
Lancement de trois essais cliniques de Phase 2 (ACLF, CCA) avec résultats attendus en 2027
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.