Bayer stock gains as Stivarga sale and Amundi stake reshape risk profile

Bayer stock (ISIN DE000BAY0017) is trading close to EUR 48 on its primary Xetra listing as of September 18, 2026, leaving room against analyst targets and highlighting how fresh portfolio moves are feeding into the risk profile for investors.

Stivarga divestment sharpens pharma portfolio

On September 21, 2026, Grünenthal announced an agreement with Bayer AG to acquire the cancer drug Stivarga for up to EUR 375 million, marking a notable reshaping of Bayer's pharmaceuticals portfolio according to Via TT on September 21, 2026.

As Aktiencheck reported on September 21, 2026, Bayer generated EUR 148 million in revenue from Stivarga in the first half of 2026, down from EUR 181 million in the prior-year period, a decline of about 18.2 percent that underscores why the product is being carved out.

The Stivarga sale comes alongside a broader set of product and pipeline updates in Bayer's pharmaceuticals business. According to Trading Treff on September 20, 2026, the US Food and Drug Administration granted accelerated approval for sevabertinib on September 9, 2026 as a first-line option for adults with HER2-mutated non-small-cell lung cancer, and Bayer started a Phase II study with BAY 3670549, a GIRK4 inhibitor, in atrial fibrillation on the same day.

Q2 2026 figures show mixed operating picture

The sale of Stivarga must be viewed against the latest group figures. In the second quarter of 2026, Bayer reported group revenue of EUR 10.87 billion and adjusted EBITDA of EUR 2.14 billion, providing a snapshot of the operating scale according to Ad-hoc-news on September 21, 2026.

Crop Science did most of the heavy lifting in that quarter: adjusted earnings in the division rose 30.2 percent year on year, while earnings in the pharmaceuticals business fell 3.6 percent, highlighting a clear divergence in momentum between Bayer's two largest segments according to the same Ad-hoc-news report.

Earnings per share provide another lens on the quarterly picture. Per Finanzen.ch on September 21, 2026, Bayer reported EPS of EUR 0.23 for the quarter ended June 30, 2026, a figure that investors can compare against the legal overhang and investment needs in both Crop Science and Pharma.

Beyond pharmaceuticals, Bayer's Leaps unit has been backing growth initiatives in agriculture. As Trading Treff detailed on September 20, 2026, Robigo closed a Series A financing with Leaps by Bayer to develop biological crop protection, and earlier in September Bayer's Crop Science division announced two of ten planned new products, each targeting peak annual sales of at least EUR 500 million, underscoring management's focus on higher-margin, innovation-driven revenue streams.

Analyst targets, Amundi stake and legal risk

Analyst houses have been adjusting their views as these operating and portfolio moves accumulate. On September 8, 2026, Barclays raised its price target on Bayer from EUR 60 to EUR 70 while maintaining an Overweight rating, implying roughly 45.8 percent upside from a share price of EUR 47.96 at the time according to Ad-hoc-news.

Two days later, on September 10, 2026, Deutsche Bank Research reaffirmed its Buy recommendation on Bayer and left its EUR 60 price target unchanged, pointing to continued upside potential even on more cautious assumptions according to the same Ad-hoc-news overview.

Alongside the sell-side, long-term institutional investors have been increasing their exposure. A voting-rights filing shows that Amundi S.A. moved above the 3 percent threshold in Bayer AG, holding 3.04 percent of the voting rights, equivalent to 29,873,658 votes, after breaching the threshold on September 14, 2026 according to Ad-hoc-news.

However, legal risk remains a central counter-factor. In a Missouri federal court roughly a week ago, Bayer's US subsidiary Monsanto proposed a collective settlement of up to USD 7.25 billion to resolve tens of thousands of existing and future US claims related to alleged cancer risks from Roundup according to Trading Treff.

The court has not yet issued a final decision, leaving investors to weigh the potential benefits of legal clarity against the cost of such a settlement. Market reaction has been cautious: Bayer shares closed the recent trading week at EUR 47.96, down 2.3 percent on the day but still up about 30 percent since the start of the year according to the same Trading Treff article.

Stock trades near recent highs

Price data show that Bayer stock remains supported despite volatility. On Euronext, which reflects trading in Bayer shares alongside Xetra, the stock closed at EUR 48.34 on September 18, 2026, after trading between a high of EUR 48.81 and a low of EUR 47.65 on volume of 18,489 shares according to live quotes from Euronext.

In intraday Xetra trading on September 21, 2026, Bayer shares were reported around EUR 48.18 at 09:28, having reached an intraday high of EUR 48.48 according to Finanzen.ch, while a later snapshot at 12:28 showed gains of 1.0 percent with an intraday high of EUR 48.65 according to a second Finanzen.ch update.

For investors, the key tension now lies between attractive upside implied by analyst targets and institutional buying on one hand, and the still unresolved US legal exposure and portfolio reshaping, including the EUR 375 million Stivarga sale, on the other. How quickly Bayer can convert its pipeline wins in oncology and nephrology into sustained earnings growth while containing litigation costs will likely determine whether Bayer stock can close more of the gap to the EUR 60 and EUR 70 targets highlighted in recent research.

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