Bayer's Dual Approval Week Meets a Split on the Street
Published on 11/14/2026 at 12:31 | Editorial boerse-global.de
Two regulatory green lights in the space of a week have put Bayer's pharmaceutical pipeline back under the microscope — and the analyst community is not speaking with one voice about what it is worth.
The more consequential of the two, at least by market reaction, came in the US, where the FDA cleared Asundexian under the brand name Sunharbo. The drug is designed to lower the risk of further strokes in certain adults, given alongside an antiplatelet therapy, and is indicated for patients who have recently suffered a non-cardioembolic ischaemic stroke or a high-risk TIA. Bayer is calling it the world's first approved Factor XIa inhibitor.
Days earlier, on 4 November, Chinese regulators signed off on Sevabertinib as a first-line treatment for adults with unresectable, locally advanced or metastatic HER2-mutant non-small cell lung cancer — a label confined to the patient group Bayer has described.
Deutsche Bank Moves, Jefferies Stays Put
Deutsche Bank Research raised its price target on the shares on Tuesday from EUR 60 to EUR 65 while reaffirming its Buy rating, pointing to the strength of the pharma division and higher earnings estimates. Jefferies lifted its own target on 6 November from EUR 46 to EUR 48.50 but kept its rating at Hold. Analyst Michael Leuchten described the US approval of Asundexian as expected, while arguing the risk to Bayer's pharmaceutical pipeline has fallen considerably as a result.
Should investors sell immediately? Or is it worth buying Bayer?
At Friday's close of EUR 56.66, the stock sits squarely between the two targets. A third research house also reiterated a Buy rating on Tuesday, taking a positive view of the US approval and labelling of Asundexian.
Handelsblatt framed Asundexian as a potentially significant growth engine, one intended to fill the revenue hole left by the decline of Xarelto, and tied the recent share-price strength to the US authorisation.
Guidance Raised After a Solid Quarter
The approvals landed alongside upgraded forecasts. For the third quarter of 2026, Bayer reported group revenue of EUR 10.1 billion and EBITDA before special items of EUR 1.62 billion, figures released on 3 November. The stronger pharma division contributed to the improved full-year outlook the company had already flagged.
Bayer at a turning point? This analysis reveals what investors need to know now.
Bayer now expects a higher margin in its Pharmaceuticals business, along with increased group EBITDA before special items and free cash flow. It also anticipates lower net financial debt.
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