Buy Rating for Sanofi Driven by Promising Amlitelimab Phase III Trials and Competitive Positioning

Bank of America Securities analyst Sachin Jain reiterated a Buy rating on Sanofi (SNYNF – Research Report) today and set a price target of €123.00.

Sachin Jain’s rating is based on the promising potential of Sanofi’s amlitelimab, particularly in its Phase III trials for atopic dermatitis. Jain views the upcoming data from these trials as critical, especially after mixed results from other trials, and believes that positive outcomes could significantly validate Sanofi’s research and development efforts. The analyst anticipates that amlitelimab could achieve peak sales of €4 billion, with a risk-adjusted forecast of €2.4 billion, which would positively impact Sanofi’s earnings per share.
Furthermore, Jain highlights the competitive positioning of amlitelimab against existing treatments like Dupixent and Amgen’s rocatinlimab. The focus is on achieving efficacy comparable to Dupixent, with a clean safety profile and extended dosing intervals, which could make amlitelimab a preferred option for patients. The potential for amlitelimab to be used as a second-line treatment after Dupixent or biologic failure, along with its favorable safety profile compared to JAK inhibitors, further supports the Buy rating.

In another report released on June 12, Berenberg Bank also maintained a Buy rating on the stock with a €118.00 price target.