UCB is a global biopharmaceutical company focused on severe diseases in two therapeutic areas, namely central nervous system disorders and immunology. In the area of central nervous system disorders, Co. is focused on advanced Parkinson's disease, epilepsy, restless legs syndrome and epilepsy. In the area of immunology disorders, Co. is focused on rheumatoid arthritis, axial spondyloarthritis, psoriatic arthritis, systemic lupus erythematosus, juvenile idiopathic arthritis, post-menopausal osteoporosis, systemic lupus erythematosus and immunological diseases.
  • TickerUCB
  • ISINBE0003739530
  • ExchangeEuronext Brussels
  • SectorPharmaceuticals & Biotechnology
  • CountryBelgium

Analysts

Rahul Shah CFA ...
  • S.M Galibur Rahman

Bangladesh (IDLC): Banks – Asset quality issues shroud the promising story; we prefer BRAC Bank

We are cautious on the sector. On the back of the recent increase in non-performing loans outstanding, the sector’s systematic risk remains high. However, lower valuation (sector median 0.8x PB) suggests that this systematic risk is mostly priced in. Fundamentally, we expect moderate top-line growth and improved profitability for our coverage names. We use a dividend discount model to derive our target prices.

Alexander Makar ...
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Thomas Couvreur

Morning Note: ADYEN NA, ATEB BB, BCART BB, UCB BB

Adyen: Pre-IPO shareholders sell € 1.5bn stake Atenor: Strong FY18 and first steps into Portugal Biocartis: Alliance with BMS for MSI companion diagnostic UCB: Phase III results on Cimzia in SpondyloArthritis

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/04/2019

...

Martial Descoutures ...
  • Pierre Corby

UCB : Priority to the second wave

>A year of investment - The company reported its 2018 results on Thursday, 28 February, for which the main questions concerned 2019 guidance. Note that the guidance provided by the group indicated sales of € 4.6-4.7bn and core EPS of € 4.40 - 4.80 which was significantly below expectations. Although the ramp-up of Cimzia and Vimpat should provide support for top line growth, forex hedges will not facilitate favouring the latter in 2019. Moreover, we are entering ...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/03/2019

...

Alexander Makar ...
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Thomas Couvreur

Morning Note: ADYEN NA, ATEB BB, BCART BB, UCB BB

Adyen: Pre-IPO shareholders sell € 1.5bn stake Atenor: Strong FY18 and first steps into Portugal Biocartis: Alliance with BMS for MSI companion diagnostic UCB: Phase III results on Cimzia in SpondyloArthritis

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/04/2019

...

Martial Descoutures ...
  • Pierre Corby

UCB : Priority to the second wave

>A year of investment - The company reported its 2018 results on Thursday, 28 February, for which the main questions concerned 2019 guidance. Note that the guidance provided by the group indicated sales of € 4.6-4.7bn and core EPS of € 4.40 - 4.80 which was significantly below expectations. Although the ramp-up of Cimzia and Vimpat should provide support for top line growth, forex hedges will not facilitate favouring the latter in 2019. Moreover, we are entering ...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/03/2019

...

Martial Descoutures ...
  • Pierre Corby

UCB : Priorité à la seconde vague

>Une année d’investissement - La société publiait jeudi dernier ses résultats annuels dont les principales questions concernaient la guidance 2019. Pour rappel, la guidance émise par le groupe stipule un CA compris entre 4.6 et 4.7 Md€ et un Core BPA entre 4.40 - 4.80 € ce qui était sensiblement en dessous des attentes. Bien que la montée en puissance de Cimzia et Vimpat devrait maintenir la croissance topline, la couverture des changes ne permet pas de favoriser...

1 director sold

A director at Ucb SA sold 5,000 shares at 75.000EUR and the significance rating of the trade was 80/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members ...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/28/2019

...

Christophe Chaput ...
  • Emira Sagaama
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/02/2019

...

Christophe Chaput ...
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/09/2019

...

Christophe Chaput ...
  • Johanna Jourdain
  • Laurence Hofmann
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/01/2019

...

Ahmed Ben Salem ...
  • Jean-Baptiste Rouphael
  • Jerôme Bodin
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Team Pharma
  • Valentin Pernet
  • Veysel Taze
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 12/14/2018

...

UCB SA reduced its risk exposure resulting in an upgrade to Slightly Positive

UCB SA (BE), a company active in the Pharmaceuticals industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date December 7, 2018, the closing price was EUR 75.40 and its potential was estimated at EUR 82.77.

Nurhayati Wan

UCB SA

Nurhayati Wan

UCB SA

Nurhayati Wan

UCB SA

Nurhayati Wan

UCB SA

Rahul Shah CFA ...
  • S.M Galibur Rahman

Bangladesh (IDLC): Banks – Asset quality issues shroud the promising story; we prefer BRAC Bank

We are cautious on the sector. On the back of the recent increase in non-performing loans outstanding, the sector’s systematic risk remains high. However, lower valuation (sector median 0.8x PB) suggests that this systematic risk is mostly priced in. Fundamentally, we expect moderate top-line growth and improved profitability for our coverage names. We use a dividend discount model to derive our target prices.

UCB– Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 27/04/2017

In general, UCB is in compliance with the Belgian regulations relating to the organization and procedures of the Annual General Meeting.Under ITEM 5, the Board of Directors seeks approval for the Company's remuneration report. Since we do not approve of LT incentive plans that do not operate one or more challenging performance conditions, we recommend opposition.Under ITEM 8.2a, the Nomination Committee proposes to re-elect Mr. Albrecht de Graeve. As we have concerns over his aggregate time commitments, we recommend opposition.Finally, under ITEM 9.1, the Board of Directors seeks authority to ...

Jérôme VINERIER

Short term view - UCB : The trend is bullish.

The trend is bullish. Prices are still making progress but the trend is slowing down. The next resistance is at €76.80. The break of €69.86 would endanger the trend.

Jérôme VINERIER

Analyse court terme - UCB : La tendance est haussière.

La tendance est haussière. Les cours progressent encore, mais la tendance s'affaiblit. La prochaine résistance est à 76,80 €. La rupture de 69,86 € mettrait la tendance en danger.

Jérôme VINERIER

Analyse court terme - UCB : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 69,86 €.

Jérôme VINERIER

Short term view - UCB : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €69.86.

Valérie GASTALDY

Medium term view - UCB : The correction is gaining traction.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €52.76.

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