H.C. Wainwright analyst Yi Chen has reiterated their bullish stance on FYB stock, giving a Buy rating on November 17.
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Yi Chen’s rating is based on Formycon AG’s promising developments in their biosimilar portfolio, particularly the achievement of technical proof of similarity for FYB208 to Dupixent. This milestone indicates that FYB208 has high analytical comparability to Dupixent, which could streamline its approval process without the need for a costly Phase 3 clinical trial. The potential market entry of FYB208, alongside the strong global sales of Dupixent, presents a significant growth opportunity for Formycon.
Additionally, Formycon’s reaffirmed revenue guidance for 2025 and the anticipated market penetration of other biosimilars like FYB202 and FYB201 further support the Buy rating. The expected commercial launch of FYB203 in the U.S. by the end of 2026 and the potential for positive EBITDA by 2026 or 2027 also contribute to the optimistic outlook. These factors collectively underpin Yi Chen’s confidence in Formycon’s long-term growth prospects, justifying the Buy rating and the adjusted price target of €40 per share.
In another report released on November 17, Kepler Capital also maintained a Buy rating on the stock with a €50.00 price target.