Ipsen shares rose sharply on the Paris Bourse on Tuesday, posting the second biggest gain on the SBF 120 index, buoyed by optimistic comments from Deutsche Bank and AlphaValue.

At 11:15 a.m., the French pharmaceutical company's shares were up 2.6%, while the SBF 120 was down 0.6% at the same time.

In a note released this morning, Deutsche Bank said it had raised its target price for the stock 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.

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

AlphaValue also describes the company as an 'attractive small pharma stock'

'After a promising end to the 2022 financial year, followed by a vigorous first-half performance, we are raising our price target by 23%, thanks to a robust pipeline combined with encouraging clinical results in recent months, favorable trials expected in the coming months and a solid balance sheet', it concludes.

His target has thus been raised to 168 euros from 137 euros previously, with a recommendation raised to 'buy' from 'accumulate'.

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