《大行報告》美銀證券降再鼎醫藥-SB(09688.HK)目標價至65.5元 重申「買入」
美銀證券發表研究報告指,再鼎醫藥-SB(09688.HK)首季總收入按年升132.3%至4,670萬美元;研發開支僅5,390萬美元,遠低於去年首季的2.04億美元,主因沒有就新授權協議作前置付款。首季淨虧損8,240萬美元,較去年首季虧損2.33億美元收窄。考慮到上海封城影響,料藥物銷售特別是零售渠道受影響。因此,降其今年收入預測8%,另上調長遠銷售及行政費用預測,反映商業化團隊擴張。因此,降2022至2024年各年每股盈測3%、4%及15%,以現金流折現率計,H股目標價由77.5元降至65.5元,考慮其產品線發展處於正軌,重申「買入」評級。
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