大行評級丨招商證券國際:上調三生製藥目標價至25港元 維持“買入”評級
招商證券國際報告指,三生製藥與輝瑞簽署中國生物製藥行業最大單一資產交易,預付款12.5億美元,總規模60億美元。
報告指,該行於早前報告已提醒投資者關於PD-1xVEGF和TL1A的許可轉讓,預計免疫學資產的進一步成熟可能推動另一次估值升級,基於公司產品線豐富,目標今年至2027年推出約10款產品並提交新藥申請,並持續擴展適應症,以及內部新型產品線和經驗證業務拓展努力,脫髮、皮膚病、自體免疫產品組合得到充實。此外,公司充裕的現金狀況和不斷強化的內部研發團隊支持轉型。
該行維持對三生製藥“買入”評級,目標價上調至25港元。
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