Ipsen shares at the bottom of the SBF 120, down 3% despite a successful Phase III study
The Paris-based laboratory fell sharply during the session, in a Paris market driven by the decline of technology stocks on Wall Street. The drop follows a clinical announcement that the company describes as encouraging in a liver disease.
A session running counter to the clinical data published in primary biliary cholangitis
Ipsen shares fell 3.07% to €154.50 during the session, while the SBF 120 lost 1.64%. The stock is among the largest declines in the index, in a session where the CAC 40 fell 1.65% following Thursday's sell-off on Wall Street (-5.52% for the Nasdaq).
In a press release published on November 5, Ipsen unveiled the results of the Phase III study ELSPIRE with Iqirvo in primary biliary cholangitis: alkaline phosphatase (ALP) was normalized in 85.3% of treated patients, compared with 23.3% under placebo.
The laboratory states that the treatment was “generally well tolerated.” These data had been published before the session began, so the stock's decline cannot be read as a reaction to this announcement.
A share price that remains above its short-term averages but below the 200-day moving average
Despite the day's decline, the stock remains above its 20-day moving average at €151.72 and its 50-day moving average at €152.20, with a gain of 9.9% over one month. However, it remains below its 200-day moving average at €157.14, i.e. 1.7% below the current price.
The RSI at 54 remains neutral. The day's decline thus brings the stock back toward its short-term averages, below the €159.40 zone that serves as resistance.
For the current fiscal year, the consensus of the analysts surveyed places the stock at about 9.5 times expected earnings. In the third quarter, Ipsen had published on October 22 revenue of €3,364.2 million for nine months, up 24.6% at constant exchange rates, and had raised its annual growth and margin targets.
