Berenberg Lifts Roche Price Target Amid Upcoming Catalysts

08:31 AM EDT, 07/24/2026 (MT Newswires) -- Berenberg raised its price target for Roche (RO.SW) to 350 francs from 340 francs following the Swiss pharmaceutical group's first-half results, noting several upcoming catalysts. For the second half of 2026, the research firm identified the expected US regulatory approval for giredestrant for breast cancer following two late-stage trials to be among the potential catalysts, according to a note published Friday. "We have raised our giredestrant sales in 2027 to CHF800m and peak sales to CHF10bn. Combined with other product updates, we increase our NPV for Roche by CHF10/share. Management noted its P3 success rate of 80% YTD 2026 and confidence in the outlook of multiple growth drivers, albeit with slower growth for Ocrevus and Vabysmo. We forecast 240bps of margin expansion from 2025 to 2027 (to 38%)," the research firm said. Roche's pharma day in September and the readout from the phase 3 Celestimo trial for Lunsumio in follicular lymphoma were also among the other key remaining catalysts for this year. The hold rating on the stock remains unchanged.