大行評級|建銀國際:上調康方生物目標價至55港元 維持“跑贏大市”評級
建銀國際發表研報指,康方生物中期淨虧損錄2.39億元,對比去年同期錄淨利潤25億元,期內非國際財報會計準則淨虧損則從2023年上半年的4.05億元收窄至3.32億元。該行表示,康方生物的核心產品AK112成功商業化,上半年僅單月銷售收入就達到超過1億元,另一款核心產品AK104中期銷售額亦增長17%至7.06億元。不過計及產品AK105上半年銷情低迷,建銀目前將康方2024至2026年收入預測下調3%、1%及1%,維持開支佔銷售比重預測為147%、90%及66%基本不變,今明兩年經調整淨虧損預測從7.16億及1.55億元,下調至7.09億及9,300萬元,而2026年經調整盈利預測則上調2%至9.2億元。憧憬前景趨向更正面,以及AK112將公佈第三期臨牀數據,該行將康方的目標價從53港元上調至55港元,維持“跑贏大市”評級。
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