智通财经APP获悉，2025年4月2日，摩根士丹利发表研报将先声药业（02096）目标价从8.70港元上调至9.50港元，并同步调高乐观情景下目标价至12.70港元（原11.80港元），给予“增持”评级。
据悉，先声药业近日公布2024年业绩，符合市场预期，收入66.35亿元，同比增长0.4%；归母净利润7.33亿元，同比增长2.6%，经调整归母净利润10.18亿元，同比增长41.6%。
对此，中金发布研报称，基本维持2025年和2026年盈利预测不变，维持先声药业(02096)跑赢行业评级和8.80港元目标价，对应17.4倍2025年市盈率和15.6倍2026年市盈率。公司多款创新早研产品(来自公司ADC/TCE/小分子平台)积极推进临床，中金认为具备license out潜力，期待今年取得积极进展。
交银国际发布研报称，上调先声药业2025-26年经调整净利润预测6-8%，主要反映更乐观的利润率改善空间。2H24公司业绩增速如期迎来复苏，预计这一趋势将延续至2025-27年，公司将迎来6款创新药上市，同时创新技术平台有望持续产出BD出海机会，上调目标价至11.2港元，看好业绩复苏和BD催化估值修复，继续将公司选为行业重点推荐标的之一。
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