《大行》華泰證券:先聲醫藥(02096.HK)失眠藥獲批 目標價升至14.65元
華泰證券發表研究報告指,先聲醫藥(02096.HK)多款重磅新藥陸續進入商業化兌現期,其中達利雷生已在6月獲中國藥監局核准治療失眠,作為可改善日間功能、安全性優秀且無成癮性的新型失眠藥物,其可望填補長期治療方案空缺。
此外,IM0500、SIM0505已在上半年實現對外授權,早期多個前沿創新管線嶄露頭角,預計在未來12個月內持續取得進展。公司多款ADC、雙抗早期品種展現全球競爭力,看好其持續的BD出海。
該行指出,由於達利雷生獲批,不需再作成功率假設,基於良好推廣情況,上調先聲醫藥核心創新藥收入,並基於競爭下調仿製藥收入,降公司2025至27年各年經調整淨利潤預測3%、6%及12%,分別至11.7億、13億及14.8億元人民幣,期內複合年增長率為12%,期內每股盈測分別為0.47元、0.52元及0.6元。該行維持公司「買入」評級,並上調估值基礎至預測今年市盈率28.24倍,目標價由原先10.52元升至14.65元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.