Jiangsu Hengrui Likely to Post Stronger 3Q Sales -- Market Talk

Dow Jones10-22

0639 GMT - Jiangsu Hengrui Medicine is expected to post a 15% rise in revenue to 6.7 billion yuan for the third quarter, Nomura analysts say. A stable ramp-up of its innovative drugs likely supported sales, they write in a note. The analysts expect the company's quarterly gross margin to narrow slightly to 86.0% given last year's high base. Third-quarter net profit is tipped at 1.6 billion yuan. Nomura advises investors to keep an eye on the clinical and commercial progress of new drugs in 4Q. It keeps a neutral rating on the stock but raises the target price to CNY50.17 from CNY48.32. Shares are last at CNY50.55. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

October 22, 2024 02:39 ET (06:39 GMT)

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It keeps a neutral rating on the stock but raises the target price to CNY50.17 from CNY48.32. Shares are last at CNY50.55. 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