Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on Formycon AG and keeping the price target at €40.00.
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Yi Chen has given his Buy rating due to a combination of factors tied to FYB206’s clinical and regulatory progress, as well as its commercial potential. The successful Dahlia pharmacokinetic trial confirmed that FYB206 closely matches Keytruda, and the streamlined development path agreed with the U.S. FDA supports a timely regulatory filing and an early entry among the first pembrolizumab biosimilars in the U.S.
In addition, Chen highlights the value of Formycon’s regional partnerships, including the Zydus deal in the U.S. and Canada and the MS Pharma agreement in the MENA region, which together secure meaningful upfront, milestone, and profit-sharing economics. Combined with Keytruda’s multibillion-dollar global revenue base, these arrangements underpin a favorable risk‑reward profile for Formycon’s shares and justify maintaining the Buy recommendation.
In another report released on February 11, Kepler Capital also maintained a Buy rating on the stock with a €33.00 price target.