Nomura: Maintains "Neutral" rating on HANSOH PHARMA (03692) and raises target price to 18.36 Hong Kong dollars.

Nomura released a research report stating that it maintains a "neutral" rating on HANSOH PHARMA (03692), with a target price raised from HK$17.95 to HK$18.36. It also forecasts a 0.5% decline in revenue and a 35% year-on-year decrease in profit for the second half of HANSOH PHARMA's 2024 fiscal year. Nomura has adjusted its revenue and profit forecasts for the 2024 fiscal year downwards by 0.6% and 4.2%, respectively. For the 2025 fiscal year, it has revised them upwards by 4.5% and 1.8% due to the company licensing its HS-10535 to Merck in December last year, as well as better than expected sales performance. The firm stated that its revenue forecasts for HANSOH PHARMA for the 2024 and 2025 fiscal years are 0.4% and 2.1% higher than market consensus, respectively, while profit forecasts are 3% lower and 1% lower than market expectations, respectively.