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<Research>Macquarie Prefers Biotechs Over CDMOs; Top Picks BEIGENE/ AKESO
Recommend 22 Positive 27 Negative 8 |
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CDMOs are facing operational pressure, with the deterioration of the financing environment of the biotech industry, Macquarie released a research report saying. Compared to CDMOs, the broker was more optimistic about biotech companies, and listed BEIGENE (06160.HK) (ONC.US) and AKESO (09926.HK) as its top picks, with ratings at Outperform and target prices of $182/ $80 respectively. Macquarie downgraded INNOVENT BIO (01801.HK) from Neutral to Underperform, and downgraded CSPC PHARMA (01093.HK) to Neutral. The broker still rated SINO BIOPHARM (01177.HK) at Outperform, believing that the company successfully weathered the storm by introducing new drugs. Currently, BEIGENE and AKESO are the broker's top picks, followed by HANSOH PHARMA (03692.HK). Based on the short to medium term growth outlook of WUXI XDC (02268.HK), Macquarie upgraded the stock to Outperform, and kept ratings at Neutral on WUXI BIO (02269.HK), WUXI APPTEC (02359.HK) and ASYMCHEM (06821.HK). The broker also kept rating at Underperform on PHARMARON (03759.HK). The latest ratings and target prices of the sector are listed in a separate table. AAStocks Financial News |
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