UBS: Raise target price of Sino Biopharmaceutical (06185.HK) to 66.6 Hong Kong dollars, reiterating a "buy" rating.

According to the Wise Finance APP, UBS released a research report stating that CanSino Biologics (06185.HK) performed slightly better than expected in the second quarter, with revenue growth accelerating to 38%, compared to 20% in the first quarter. The net loss narrowed to 2 million RMB, with a net loss of 13 million RMB in the first half of the year, a 94% decrease compared to the same period last year, which is less than the bank's forecasted loss of 31 million RMB. The bank believes that CanSino's early pipeline products and potential for external authorization have not been fully reflected, raising the target price from 47 Hong Kong dollars to 66.6 Hong Kong dollars and reiterating a "buy" rating. The bank also revised its earnings forecasts for 2025 to 2027 from 0.01, 1.16, and 2.39 RMB per share to 0.24, 1.16, and 2.55 RMB per share.