《大行報告》摩通下調信達生物(01801.HK)目標價至46元 評級「增持」
摩根大通發表研究報告,表示對信達生物(01801.HK)的增長前景看法越來越樂觀,指出公司去年度產品銷售額按年增長約70%,主要來自於信迪利單抗(Tyvyt)強勁銷量增長所帶動。
該行又指,信達生物正擴大與禮來(LLY.US)的合作夥伴關係,預計將在今年底推出另外兩款風險較低的產品,管理層並強調,除Tyvyt以外旗下研發管道將有不少產品取得進展,包括將提交3項新藥上市申請及開展4項註冊臨牀試驗。
計及多元化新品發佈及最新研發產品,摩通引入新預測,預期到撇除Tyvyt以外銷售額將由2021年的低於2億元人民幣,增長至 2026年的超過60億元人民幣,即其他產品對銷售額的貢獻將由約5%提升至約50%。
摩通認爲市場低估了信達生物其他產品的潛力,年初至今股價跑輸大市屬毫無根據,給予「增持」評級,目標價則由94元下調至46元。
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