Bank of America Securities: Raised the target price of Ascletis Pharma to 106.9 Hong Kong dollars, reiterating a "buy" rating.

According to the Wisdom Financial APP, Bank of America Securities released a research report stating that the total revenue and product revenue of Sino Biopharmaceutical (01801.HK) in the first half of this year reached 6 billion and 5.2 billion RMB respectively, a year-on-year increase of 50.6% and 37.3%. Bank of America Securities has raised its gross profit margin forecast for Sino Biopharmaceutical for the next two years by 0.6 to 0.8 percentage points, considering its efficiency improvement; and has raised its target price from 70.1 HKD to 106.9 HKD, reiterating a "buy" rating, bullish on its stable research and development capabilities and rich pipeline portfolio.