野村发布报告称,维持百济神州(06160)“买入”评级,基于DFC估值,将目标价上调7.8%,由174.91港元升至188.53港元,认为其仍有32%的股价上升空间。野村预计百济神州2024年第4季表现强劲,2025年实现管理层指引的营运盈亏平衡。
野村称,由于Zanubrutinib(BTK抑制剂)销售预测上调,上调2024及2025年收入预测分别至37亿美元及47亿美元。考虑到加速折旧导致毛利率下降,上调2024年净亏损,但又因销售预估上调带来更大的规模经济效益,故下调2025年净亏损。此外,野村预计百济神州在第4季录得销售额10.22亿美元及净亏损6300万美元。
责任编辑:史丽君
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