External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Biocon Limited reported revenue growth of 17.5% (est. 8.9%) which is majorly driven by biosimilars (+27.6%, YoY) and generic (+8.3%, YoY) segment</li><li>In generic, the launch of Everolimus and uptake in API has improved sales despite continuous pricing pressure in the US</li><li>Therefore, we recommend a BUY rating with a Target Price of Rs 425, implying an upside of 14% from the CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Biocon Limited reported revenue growth of 17.5% (est. 8.9%) which is majorly driven by biosimilars (+27.6%, YoY) and generic (+8.3%, YoY) segmentIn generic, the launch of Everolimus and uptake in API has improved sales despite continuous pricing pressure in the USTherefore, we recommend a BUY rating with a Target Price of Rs 425, implying an upside of 14% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon: Strong Momentum in Generic And Biosimilar Verticals

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Biocon mainly operates in biologics (biosimilars), small molecules (generics), branded formulations and contract research (Syngene)</li><li>Robust biosimilar portfolio with partners like Viatris, Sandoz (for future launches), Adagio among others</li><li>Target Price and Valuation: We value Biocon at Rs 410 on SOTP basis</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Biocon mainly operates in biologics (biosimilars), small molecules (generics), branded formulations and contract research (Syngene)Robust biosimilar portfolio with partners like Viatris, Sandoz (for future launches), Adagio among othersTarget Price and Valuation: We value Biocon at Rs 410 on SOTP basisContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon: Biosimilar Traction Buoys up Q3, Momentum to Be Key

<p>We expect revenue and PAT CAGR of 11.4% and 16.0% respectively over the period FY21-FY24E and we recommend a BUY on the stock with TP of Rs 390, implying an upside of 12% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We expect revenue and PAT CAGR of 11.4% and 16.0% respectively over the period FY21-FY24E and we recommend a BUY on the stock with TP of Rs 390, implying an upside of 12% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon: Robust Growth Opportunities in Biosimilars and Research Business

<p>We believe the company's valuations are at a comfortable level considering the its stable growth over a longer period. Therefore, we recommend BUY with a Target Price of Rs 370.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We believe the company's valuations are at a comfortable level considering the its stable growth over a longer period. Therefore, we recommend BUY with a Target Price of Rs 370.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Biocon: Improved Profitability Despite Weak Top-Line; Maintain BUY

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

<p>BIOS delivered an operationally in line 2QFY22, while higher other income led the earnings beat. The healthy show in Research Services and ramp-up in Biosimilar sales was dragged down by the Generics segment on a YoY basis. We lower our FY23E EPS estimate by 3%, factoring in: a) pandemic-led delays in inspection, thereby having a subsequent impact on the approval timeline, b) gradual pick-up in market share for Insulin Glargine c) intense pricing pressure in Generics, and d) an increase in raw material prices.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

BIOS delivered an operationally in line 2QFY22, while higher other income led the earnings beat. The healthy show in Research Services and ramp-up in Biosimilar sales was dragged down by the Generics segment on a YoY basis. We lower our FY23E EPS estimate by 3%, factoring in: a) pandemic-led delays in inspection, thereby having a subsequent impact on the approval timeline, b) gradual pick-up in market share for Insulin Glargine c) intense pricing pressure in Generics, and d) an increase in raw material prices.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ramp-up in Biosimilars offset by lower Generic sales

India

Biocon Ltd., is an integrated biotechnology enterprise with a presence in biopharmaceuticals, enzymes, custom research and clinical research. The Company's pharmaceutical products include statins, immunosuppressants and anti-diabetic drugs. Biocon also manufactures specialty enzymes and new enzyme applications besides providing clinical and custom research services.

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Biocon Ltd (BIOS IN)

Biocon: Strong Momentum in Generic And Biosimilar Verticals

Biocon Limited reported revenue growth of 17.5% (est. 8.9%) which is majorly driven by biosimilars (+27.6%, YoY) and generic (+8.3%, YoY) segment

Axis Direct

Biocon: Biosimilar Traction Buoys up Q3, Momentum to Be Key

What should investors do? Biocon's share price has grown by ~2.3x over the past five years (from ~Rs 162 in January 2017 to ~Rs 370 levels in...

ICICI Securities Limited

Biocon: Robust Growth Opportunities in Biosimilars and Research Business

We expect revenue and PAT CAGR of 11.4% and 16.0% respectively over the period FY21-FY24E and we recommend a BUY on the stock with TP of Rs 390,...

Axis Direct

Biocon: Improved Profitability Despite Weak Top-Line; Maintain BUY

We believe the company's valuations are at a comfortable level considering the its stable growth over a longer period. Therefore, we recommend BUY...

Axis Direct

Ramp-up in Biosimilars offset by lower Generic sales

BIOS delivered an operationally in line 2QFY22, while higher other income led the earnings beat. The healthy show in Research Services and ramp-up...

Motilal Oswal

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52-week Range

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Biocon: Strong Momentum in Generic And Biosimilar Verticals

Biocon Limited reported revenue growth of 17.5% (est. 8.9%) which is majorly driven by biosimilars (+27.6%, YoY) and generic (+8.3%, YoY) segment

Axis Direct

Biocon: Biosimilar Traction Buoys up Q3, Momentum to Be Key

What should investors do? Biocon&#x27;s share price has grown by ~2.3x over the past five years (from ~Rs 162 in January 2017 to ~Rs 370 levels in...

ICICI Securities Limited

Biocon: Robust Growth Opportunities in Biosimilars and Research Business

We expect revenue and PAT CAGR of 11.4% and 16.0% respectively over the period FY21-FY24E and we recommend a BUY on the stock with TP of Rs 390,...

Axis Direct

Biocon: Improved Profitability Despite Weak Top-Line; Maintain BUY

We believe the company's valuations are at a comfortable level considering the its stable growth over a longer period. Therefore, we recommend BUY...

Axis Direct

Ramp-up in Biosimilars offset by lower Generic sales

BIOS delivered an operationally in line 2QFY22, while higher other income led the earnings beat. The healthy show in Research Services and ramp-up...

Motilal Oswal

What should investors do? Biocon's share price has grown by ~2.3x over the past five years (from ~Rs 162 in January 2017 to ~Rs 370 levels in...