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Investing.com - UBS downgraded Galderma Group AG (SWX:GALD) from Buy to Neutral on Monday, while lowering its price target to CHF120.00 from CHF128.00.
The downgrade follows recent strong share price performance for the Swiss dermatology company, with UBS noting "more limited upside" potential for Galderma shares.
UBS’s second-quarter 2025 US Aesthetics Survey revealed continued strong trends for neuromodulators, but indicated a weaker outlook for fillers and biostimulators, along with increased promotional activity across the segment.
In the therapeutics division, UBS observed that Galderma’s Nemluvio product launch "has continued strongly," prompting the firm to raise its near-term sales estimates for the treatment.
Despite the near-term sales adjustment for Nemluvio, UBS maintained its $3 billion peak sales forecast for the product’s marketed indications.
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