Core Viewpoint - Cinda Biologics reported a year-on-year revenue growth of over 40% in Q3, exceeding expectations and indicating strong performance in the biopharmaceutical sector [1] Group 1: Financial Performance - Total product revenue for Cinda Biologics in Q3 surpassed 3.3 billion, with a quarterly growth of 22%, outpacing last year's 15% growth [1] - The company is expected to achieve an annual revenue of approximately 11.5 billion, primarily driven by the sales of Masituzumab and three recently licensed candidate drugs to Takeda [1] Group 2: Future Projections - The firm has raised its total product revenue forecasts for 2025 to 2027 by 1%, 2%, and 1% respectively, projecting revenues of 11.5 billion, 18.3 billion, and 23.3 billion [1] - Adjusted profit forecasts have also been increased to 1.7 billion, 10.3 billion, and 5.6 billion for the same period [1] Group 3: Market Position and Rating - Cinda Biologics is viewed as a leader in biopharmaceuticals for treating challenging chronic and fatal diseases in China [1] - The target price has been raised from 125 HKD to 128 HKD, corresponding to a projected price-to-sales ratio of 10.6 times for 2026, maintaining an "outperform" rating and listing it as a preferred stock in the industry [1]
大行评级丨建银国际：上调信达生物目标价至128港元 维持“跑赢大市”评级并列为行业首选股