Sanofi (NASDAQ:SNY) is noted as a ridiculously cheap stock to buy now, as Jefferies reaffirms its ‘Buy’ rating with an unchanged price target of €100. Despite concerns over the FDA’s Complete Response Letter for tolebrutinib, the firm believes management communication issues will continue to impact market sentiment.

On December 23, Sanofi (NASDAQ:SNY) received European Commission approval for its Wayrilz (rilzabrutinib) treatment, a novel BTK inhibitor for immune thrombocytopenia. The pivotal LUNA 3 phase 3 study showed positive results, achieving primary and secondary endpoints with significant impact on sustained platelet counts and ITP symptoms.

Wayrilz patients experienced a faster time to first platelet response and maintained response longer compared to the placebo group, according to the study. Sanofi’s Executive VP highlighted the treatment’s differentiated mechanism of action for ITP management.

Sanofi (NASDAQ:SNY), a French pharmaceutical company founded in 1994, focuses on delivering medicines and vaccines for various medical conditions, including immunology and inflammation, and oncology.

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Read more at Yahoo Finance: Jefferies Maintains Buy on Sanofi (SNY) Despite Regulatory Overhang