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《大行報告》大摩上調信達生物(01801.HK)目標價至59元 評級「增持」
阿思達克 08-30 11:00
摩根士丹利發表報告指,信達生物(01801.HK)上半年業績好過預期,主要受惠經營開支改善,按管理層指引,下半年研發及銷售成本可能上升,但成本佔比將會受控。內地的醫藥反貪腐措施,可能造成短期影響,但長遠而言則有利。 由信達與禮來共同合作的肺癌藥Tyvyt第二季銷售按年升41%,已復甦至2021年第二季水平。該行估計下半年來自肺癌免疫療法Sintilimab的銷售額13億元人民幣,相信第二季的強勁復甦將會持續,有可能上調銷售預測。公司維持指引,2027年產品銷售額達至200億元人民幣,2025年收支平衡。 該行認為在經營成本佔比改善、商業產品組合擴充下,反映信達生物在生物科技公司中,執行能力最佳,維持「增持」評級,目標價由56元上調至59元。
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