UBS reiterates its Buy recommendation on the stock, with a target price of E 145, representing 41% upside potential.

' We recognize the likely increase in competition for elafibranor following the acquisition of GILD/CBAY, but note moderate expectations for peak sales of elafibranor'.

'The investigational once-daily oral drug could become the first new second-line treatment for primary biliary cholangitis, a rare cholestatic liver disease, in almost a decade', the group had said.

The European Medicines Agency has approved elafibranor's marketing authorization application. The U.S. FDA has accepted elafibranor's marketing authorization application.

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