H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Formycon AG today and set a price target of €48.00.
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Yi Chen has given his Buy rating due to a combination of factors including Formycon AG’s strategic market positioning and promising product pipeline. The company has reported a solid revenue forecast for the second half of 2025, driven by the market penetration of FYB202, a biosimilar for ustekinumab, in the U.S. and Europe. Additionally, the potential launch of FYB203, an aflibercept biosimilar, in 2026 and the anticipated partnerships for FYB206, a pembrolizumab biosimilar, are expected to significantly contribute to revenue growth.
Moreover, Formycon’s financial position has been strengthened with a recent bond placement, boosting its cash reserves to approximately €97.3 million. The company’s management has affirmed its 2025 revenue guidance and expects to achieve positive EBITDA by 2026. These factors, combined with the accelerated development timeline for FYB206, enhance the company’s growth prospects, justifying the Buy rating and the €48 price target.
According to TipRanks, Chen is an analyst with an average return of -7.6% and a 37.93% success rate. Chen covers the Healthcare sector, focusing on stocks such as Anixa Biosciences, Lipocine, and RegenXBio.
In another report released on August 20, Berenberg Bank also maintained a Buy rating on the stock with a €30.00 price target.