In today’s briefing:
- Weekly Wrap – 05 May 2023
- [RemeGen (9995 HK) Target Price Change]: Chinese Biotech Must Confine to the Biotech Role
Weekly Wrap – 05 May 2023
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
and more…
[RemeGen (9995 HK) Target Price Change]: Chinese Biotech Must Confine to the Biotech Role
- RemeGen’s C1Q23 top line came in as 31% of our C1H23 estimate while IFRS operating loss came in as 55%.
- C1Q23 gross margin exceeded our C1H23 estimate by 12ppt, mainly due to restraining in shipment
- We cut our product sales estimates and raise WACC by 1ppt to reflect concentrated risk, leading to TP reduction from US$64 to US$46.
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