Highest value of the Ibex 35: Grifols stars in a rally on the stock market
The titles of the pharmaceutical company Grifols stand out in the Ibex 35 revaluation table this Friday. Going up more than 14% and after having been about to touch 26 euros per share, Grifols led the increases with increases of approximately 9%, after the bump of the American Vertex.
Vertex Pharmaceuticals, as reported yesterday in a statement, sees it unlikely that the results obtained in the study of its drug VX-864 will translate into a substantial clinical benefit, so “it will not advance to the last stage of the trial.”
The drug listed above was intended to treat alpha-1 antitrypsin deficiency (AATD), a condition in which the body does not produce enough AAT, a protein that protects the lungs and liver. This condition can lead to COPD (chronic obstructive pulmonary disease) and liver disease (cirrhosis).
History repeats itself since in October 2020 the American biotech Vertex paralyzed the research of a drug and, consequently, Grifols soared more than 8% in the Spanish stock market.
From Renta 4 indicates that, in the medium term, the levers that sustain the growth of the pharmaceutical industry, as well as Grifols’ excellent positioning remains unchanged, with 2020-25 R4e revenue growth at a CAGR of + 6% and + 9% at adjusted EBITDA level.
The multinational Grífols accumulates an annual revaluation of more than 3% and already exceeds 11% per week.
María Mira, Investment Strategies analyst, recalls that one of the fundamental pillars in Grifols’ strategy is innovation.
Currently, part of the company’s R & D & i project portfolio is aimed at treating diseases beyond plasma-derived therapies, with which the Group seeks to diversify its businesses and sources of income and thus reduce the dependence on blood products.
Analysts positive with value
The reaction of the firms has been the reiteration of their purchase recommendation. Alantra, Barclays and Berenberg maintain the target price for Grifols at 29.6; 28 and 29.3 euros per share, respectively, which represents a potential upside between 17 and 23%.
The consensus of . analysts, meanwhile, places the target price of 27.5 in euros per share, with a potential of 13%. Of the firms that follow the value, 15 recommend buying and seven, keeping.
Grifols joins the renewable revolution
In addition to its spectacular revaluation in the stock market this Friday, Grifols and RWE Renewables announced yesterday in a statement the signing of a 10-year renewable energy purchase agreement (PPA) whereby Grifols will buy enough clean electricity to satisfy 28% of its total annual electricity needs in Spain.
Under the agreement, Grifols will buy the entire production of a 21-hectare solar photovoltaic plant that RWE is developing in Las Vaguadas, Badajoz – up to 25 GWh per year (energy capacity of 10 MWac), that is, the equivalent of the Green electricity needed to supply a population of about 21,000 inhabitants for a year-, and with this annually the emission of more than 7,600 tons of CO2 will be avoided.