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<Research>G Sachs: Out-licensing Trend in CN Biopharma Products Structural; SINO BIOPHARM TP Raised to HKD6.19
Recommend 64 Positive 104 Negative 53 |
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The trend of Chinese biotech companies licensing their products overseas has driven strong share price performance in 1H25, Goldman Sachs published a research report saying. Recently, discussions emerged regarding the sustainability of transactions and valuations. The broker believed that, after an in-depth analysis of licensing deals and China's innovative drug pipeline in a global context, this is a structural shift rather than a temporary rebound. Goldman Sachs was long-term bullish on leading biotech companies (BEIGENE (06160.HK), INNOVENT BIO (01801.HK) and SKB BIO-B (06990.HK)), and emphasized the significant potential upside for 3 companies in 2H25, naming INNOVENT BIO, ZAI LAB (09688.HK) and Legend Biotech Corporation (LEGN.US). Goldman Sachs adjusted its target prices for Chinese pharmas, and kept ratings at Buy for SINO BIOPHARM (01177.HK)/ HANSOH PHARMA (03692.HK)/ INNOVENT BIO, with target prices raised from $3.92/ $22.71/ $74.95 to $6.19/ $34.83/ $96.22. The broker upgraded CSTONE PHARMA-B (02616.HK) from Neutral to Buy, and elevated its target price from $2.77 to $6.25. AASTOCKS Financial News Website: www.aastocks.com |
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