On Tuesday, Deutsche Bank raised its target price for Ipsen shares from €100 to €124, citing "an improving business case".

"The half-year results confirmed that the company is transitioning to a multi-launch phase focused on commercial execution, far from the concerns currently surrounding Somatuline", explains the research firm.

The research firm cites the US FDA's decision on palovarotene, scheduled for August 16, and the registration dossiers expected for elafibranor in the US and Europe over the coming months, as the next catalysts.

Deutsche Bank maintains its 'hold' recommendation on the stock.

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