Pharmaron's Earnings Likely Weighed by Biotech Sector Disruptions -- Market Talk

Dow Jones06-25

0656 GMT - Pharmaron's earnings will likely be under pressure in the coming months given the disruptions witnessed by the biotech sector due to continuing U.S.-China tensions, Deutsche Bank analyst Cyrus Ng says in a research note. The bank cuts its 2024 and 2025 revenue forecasts for the company by 12% and 21%, respectively, and slashes the stock's target price to HK$15 from HK$30. Deutsche Bank maintains a buy rating on the stock, citing a stable growth outlook. Pharmaron shares are last at HK$9.10. (rthvika.suvarna@wsj.com)

(END) Dow Jones Newswires

June 25, 2024 03:00 ET (07:00 GMT)

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Pharmaron shares are last at HK$9.10. 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Deutsche Bank maintains a buy rating on the stock, citing a stable growth outlook. Pharmaron shares are last at HK$9.10. 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