Bayer Splits the Street: JPMorgan Sees 61 Euros, Jefferies Sees 46
Published on 10/26/2026 at 18:01 | Editorial boerse-global.de
Bayer shares climbed 3.6% today, and the move has two distinct catalysts behind it. The first is regulatory: China has approved Asundexian under the brand name Sunharbo, making it the world's first approved FXIa inhibitor, according to the company. The second is clinical: interim results from the Phase III DASL-HiCaP trial showed Darolutamid cutting the risk of metastases or death by 58% versus placebo.
The Chinese green light covers reduction of stroke risk in adults following a non-cardioembolic ischemic stroke or a high-risk TIA, and rests on the Phase III OCEANIC-STROKE study. dpa-AFX cited both the approval and the prostate cancer data as drivers of the session's gain.
Two Houses, Two Verdicts
JPMorgan reaffirmed its "Overweight" rating and a 61-euro price target. Analyst Richard Vosser read the DASL-HiCaP interim data positively. Jefferies, by contrast, kept Bayer at "Hold" with a 46-euro target after reviewing the same results, with analyst Michael Leuchten calling the Darolutamid efficacy promising but largely a confirmation of what was already known rather than a fundamental shift.
Should investors sell immediately? Or is it worth buying Bayer?
That gap — 15 euros between the two targets — frames the debate. The DASL-HiCaP figures come from an interim analysis with a median follow-up of 3.8 years; both treatment arms also received ADT and radiotherapy. Darolutamid is not yet approved for this particular treatment setting, so the commercial upside remains tied to further regulatory steps.
What Is Approved and What Is Only Promising
The distinction matters for anyone trying to value the pipeline. Asundexian has a clearance in hand. The Finerenon story is one step earlier: the FDA accepted a supplemental application on October 8 for adults with chronic kidney disease without diabetes, based on positive Phase III FIND-CKD results — an acceptance, not an approval.
Media reports indicated that Vosser and at least one other research house see additional peak sales potential of up to one billion euros for Nubeqa. That is a potential estimate, not reported revenue and not a confirmed company forecast. Investors weighing the recent run of good news have to separate regulatory wins already banked from opportunities that still hinge on future decisions.
The November Checkpoint
Bayer has scheduled its third-quarter 2026 results for November 3, with publication set for 07:30. Those figures can sharpen the economic picture against which the drug candidates are being judged — though they should not be confused with revenue already contributed by today's approval. Between now and then, the market's task is less about counting positive headlines than about watching how steadily they convert into hard business momentum.
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Bayer Stock: New Analysis - 26 October
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