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

Cedric Duinslaeger ...
  • Guy Sips
  • Jan Opdecam
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman

Morning Note: ATEB BB, BEKB BB, DSM NA, GLPG NA, KIN BB, SBMO NA, SIOE BB, UCB BB

Atenor: 3Q19: development market remains satisfactory Bekaert: 3Q revenue flat, cautious outlook DSM: Avansya starts stevia production Galapagos: Feedback R&D day Jensen-Group: expect lower revenue and profitability for FY19 Kinepolis: Acquiring Dutch cinema Arcaplex SBM Offshore: 3Q19 Conf Calls takeaways Sioen: Continued 3Q growth slowdown, similar 4Q trends UCB: First positive bime ph3 data in psoriasis

With a more favourable environment, UCB SA improves to Slightly Positive

UCB SA (BE), a company active in the Pharmaceuticals industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date November 8, 2019, the closing price was EUR 73.48 and its potential was estimated at EUR 77.15.

Jean-Jacques Le Fur

UCB: Finally, Evenity gets a positive CHMP opinion | NEUTRAL | EUR69(-2%)

UCB - NEUTRAL | EUR69(-2%) Finally, Evenity gets a positive CHMP opinion After a long and bumpy road What can be the commercial success now? Two good pieces of news in a row but nothing exceptional Neutral reiterated

Alan Vandenberghe ...
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: BBED NA, KDS NA, OXUR BB, UCB BB

Beter Bed Holding: Sale and lease-back of Uden distribution center Kiadis: No EU conditional approval for ATIR101 Oxurion: 3Q19 – transitioning pKal THR-149 to phII UCB: Against all odds positive CHMP on Evenity afterall

Nurhayati Wan
Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Automotive Parts Suppliers - EN

TP ICAP - Europe - Morning CreditUpdate 11/10/2019 - Automotive Parts Suppliers - EN

Cedric Duinslaeger ...
  • Guy Sips
  • Jan Opdecam
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wido Jongman

Morning Note: ATEB BB, BEKB BB, DSM NA, GLPG NA, KIN BB, SBMO NA, SIOE BB, UCB BB

Atenor: 3Q19: development market remains satisfactory Bekaert: 3Q revenue flat, cautious outlook DSM: Avansya starts stevia production Galapagos: Feedback R&D day Jensen-Group: expect lower revenue and profitability for FY19 Kinepolis: Acquiring Dutch cinema Arcaplex SBM Offshore: 3Q19 Conf Calls takeaways Sioen: Continued 3Q growth slowdown, similar 4Q trends UCB: First positive bime ph3 data in psoriasis

Jean-Jacques Le Fur

UCB: Finally, Evenity gets a positive CHMP opinion | NEUTRAL | EUR69(-2%)

UCB - NEUTRAL | EUR69(-2%) Finally, Evenity gets a positive CHMP opinion After a long and bumpy road What can be the commercial success now? Two good pieces of news in a row but nothing exceptional Neutral reiterated

Alan Vandenberghe ...
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: BBED NA, KDS NA, OXUR BB, UCB BB

Beter Bed Holding: Sale and lease-back of Uden distribution center Kiadis: No EU conditional approval for ATIR101 Oxurion: 3Q19 – transitioning pKal THR-149 to phII UCB: Against all odds positive CHMP on Evenity afterall

Nurhayati Wan
Nurhayati Wan

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 ...

Emmanuel Matot ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/11/2019

At the CMD on 13 November, the group will demonstrate that the price it paid for Medidata was worth it given the strategic rationale and profitable growth outlook. Medidata’s integration is set to have an accretive impact of +100bp on DSY’s structural organic growth profile and +10% on its 2020e EPS. On this basis, we have raised our target price to € 170. The recent pressure on valuation multiples offers a good entry point as the Q3 2019 results should be solid. - ...

Emmanuel Matot ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/10/2019

Lors du CMD du 13 novembre, Dassault Systèmes démontrera que le prix payé pour Medidata se justifie par son intérêt stratégique et ses perspectives de croissance rentables. Son intégration devrait avoir un impact relutif de 100 pb sur la croissance org. structurelle de DSY et de 10% sur le BPA 2020e. Cela nous amène à relever notre OC à 170 €. La récente baisse des multiples offre un bon point d’entrée alors que les résultats T3 devraient être solides. - ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Rémi Adam
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/26/2019

The market is holding up, but its apparent resilience is resting on very shaky foundations, in our view. For the time being, the results season has not delivered any unpleasant surprises thus far, but has not invalidated the downward trend in EPS growth. The erosion of PMI continues apace In this context, dependency on monetary policy increases. Lastly, our integration indicators for US-China trade tensions underscore, in the US as in Europe, in the wake of the post-G20 truce, the ret...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Benoit Valleaux
  • Christophe Chaput
  • Delphine Brault
  • Emira Sagaama
  • Fatma Agnès Hamdani
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Rémi Adam
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/07/2019

Le marché tient, mais cette robustesse apparente nous semble bâtie sur des fondations bien fragiles. Pour le moment, la saison des résultats n’a pas livré de mauvaises surprises, mais n’a pas permis d’invalider la tendance baissière de la croissance des BPA. L’érosion des PMI se poursuit. Dans ce contexte, la dépendance à la politique monétaire se renforce. Enfin nos indicateurs d’intégration de tension commerciale sino-américaine soulignent, de part et d’autre de l’Atlantique, dans l...

Ahmed Ben Salem ...
  • Alain William
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/25/2019

...

With a more favourable environment, UCB SA improves to Slightly Positive

UCB SA (BE), a company active in the Pharmaceuticals industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date November 8, 2019, the closing price was EUR 73.48 and its potential was estimated at EUR 77.15.

Nurhayati Wan
Nurhayati Wan
Nurhayati Wan
Nurhayati Wan
ING
Hendrik Wiersma ...
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Benelux Credit Digest/Issuer Profiles

Once again, it is with great pleasure that we present the eleventh edition of our Benelux Credit Digest, our annual overview of the key fundamentals and credit metric developments of the most important corporate and financial credits in Belgium, the Netherlands and Luxembourg.

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.

Expert Corporate Governance Service (ECGS)

UCB _ AGM and EGM 25 April 2019

In general, UCB is in compliance with the Belgian regulations relating to the organization and procedures of the Annual General Meeting. ITEMS 1 to 9 concern the Annual General Meeting. ITEMS E.1, E.2 and E.3 concern the Extraordinary Meeting. In the Ordinary General Meeting, in ITEM 5, the board of directors seeks approval of the Company's remuneration report. Since ECGS does not approve of long term incentive plans that do not operate one or more challenging performance conditions, we recommend to OPPOSE. Three re-elections are proposed: Ms. Evelyn du Monceau (ITEM 8.1), Mr. Cyril Jansse...

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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