大行評級丨大和:上調百濟神州目標價至180港元 上調今明兩年收入及盈利預測
大和發表報告,百濟神州首季收入按年升49%至11億美元,盈利130萬美元,相較去年同期淨虧損2.51億美元,主要受惠營運槓桿,毛利率按年升1.8個百分點至85.2%,以及研發費用和銷售、一般及行政費用各錄5%及7%的適度按年增長。百悅澤(Brukinsa)收入按年升62%至7.92億美元,繼續超越同類競爭對手,估計百悅澤在全球BTK市場市佔於達到約30%。
該行將百濟神州的目標價由171港元上調至180港元,評級“買入”。該行上調對公司今明兩年收入預測3%及4%,主要受百悅澤及安進授權產品推動,同時上調毛利率預測各0.4個百分點,淨利潤預測分別爲9400萬及5.77億美元(原先料今年錄淨虧損,明年扭虧轉賺3.65億美元)。
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