** Deutsche Bank cuts H Lundbeck HLUNa.CO to "hold" from "buy," citing the Danish drugmaker's "sharp" valuation drop

** DB says the valuation drop is the culmination of the shares' downturn following its capital markets day and acquisition of Longboard Pharmaceuticals

** The valuation dropped to the levels of 12 months ago, "virtually erasing all of last year's gains," says DB

** Lundbeck shares were down 4.5% at 07:19 GMT, hitting their lowest level since February 2024

** Out of 12 analysts covering the stock, four rate it "strong buy" or "buy," seven rate "hold" and one "sell," based on LSEG data

(Reporting by Vera Dvorakova)

((vera.dvorakova@thomsonreuters.com))