ZURICH — UBS maintained its "Neutral" rating on Novartis AG on Tuesday, keeping its share target at 116 Swiss francs.
The decision followed data on remibrutinib, an experimental multiple-sclerosis treatment, which UBS said aligned with the drug's most favorable scenario. Analyst Matthew Weston assigned a 50% success probability to the asset in his valuation model, while setting peak annual sales at $4.5 billion.
