03:03 AM EDT, 09/11/2026 (MT Newswires) -- AlphaValue/Baader Europe views the recent pullback in UCB's (UCB.BR) shares as a "rare window of affordability" backed by the long-term volume potential of the biopharmaceutical company's psoriasis medicine Bimzelx. "After an incredible 184% share price run from November 2023 to February 2026, UCB's shares have lost c.28% of their value. This is largely because of the pricing pressure from 1/ an agreement (from June 2026 onwards) with one of the Pharmacy Benefit Managers in the US that would grant its cornerstone drug Bimzelx (c.36% of H1 26 sales) [first-line] use in all its indications, and 2/ the 'most [favored]-nation' agreement with the Trump government (signed in late-August 2026) to lower some of its drugs' prices. While the firm upgraded its full-year guidance at the time of its H1 26 results, investors were not impressed," according to a Thursday note. "Nonetheless, in case one looks beyond the near-term, Bimzelx volumes, backed by better formulary access, might more than compensate for the current pricing pressure in the coming years. With exclusivity until mid-2030s, the management expects Bimzelx to garner >EUR7bn peak sales (recently revised upwards from EUR4bn) vs. EUR1.5bn sales in H1 26. For context, the whole of UCB generated EUR7.7bn sales in 2025," analysts added. Against this backdrop, the research firm raised the add-rated stock's price target to 249 euros from 246 euros.

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