《大行報告》大摩下調康方生物(09926.HK)目標價至57.5元 市場份額或提升 評級「增持」
摩根士丹利發表報告指,康方生物(09926.HK)上半年收入36.77億元人民幣,符合該行預期,當中腫瘤免疫治療藥Cadonilimab銷售額6.06億元人民幣,略低過該行預期,其他產品銷售按年跌36%,亦差過預期,管理層指受累於廣州生產設施延遲獲批,預期今個月可獲批。管理層維持Cadonilimab全年銷售指引為12億至13億元人民幣,研發開支少於15億元人民幣。
該行指,海外業務進展仍為關注重點,因應上半年業績,將2023至2025年三年期間的收入預測,分別下調10%、35%及38%,目標價由60.9元下調至57.5元,維持「增持」評級。
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