《大行報告》麥格理首予君實生物(01877.HK)「跑輸大市」評級 目標價24.5元
麥格理發表研究報告,首次給予君實生物(01877.HK)「跑輸大市」評級,目標價為24.5元。
該行指出,公司與旺山旺水合作研發的新冠口服藥物VV116預期將於第三季取得緊急使用授權,雖然對其獲批持樂觀態度,但預期產品的商業應用仍存在不確定性,包括要面對市場競爭、需求未明及定價問題等。
麥格理指,君實的其他中後期研發項目大部分為合作資產,令日後商業化貢獻減少,雖然公司已在中國推出首個自主研發的PD-1癌症免疫療法項目,但去年銷售額較同業同類產品低,其他產品亦存在較大不確定性,令其商業化能力存疑。
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