RBC reaffirms its 'in line with sector performance' recommendation and 120 euro price target on Ipsen, following the presentation of positive Phase III data for its Cabometyx in advanced prostate cancer.

While full data are still required to assess its potential, RBC believes that 'strong data could support a significant boost to Cabometyx sales, currently driven by its use in the kidney cancer setting'.

In the meantime, Cabometyx will remain an important growth driver for Ipsen, particularly in first-line kidney cancer", says RBC, which anticipates sales of €546 million this year (+22%), and a peak of €786 million by 2028.

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