Goldman Sachs: Maintain Cinda Biotech's (01801) “Buy” rating and raise the target price to HK$65.81

The Zhitong Finance App learned that Goldman Sachs released a research report stating that it raised the target price of Cinda Biotech (01801) from HK$63.7 to HK$65.81, maintaining the “buy” rating.

The bank said it will adjust the company's earnings forecast per share from this year to 2026 to negative 0.54 yuan, 0.02 yuan and 1.36 yuan to reflect the bank's fine-tuned R&D expenses and sales, general and administrative expenditure forecasts based on the performance of the first half of the year, as well as the success rate of specific drugs.

According to the report, the company's revenue for the first half of the year increased 46% year on year to 3.95 billion yuan, while product sales rose 55% year on year to 3.8 billion yuan (same below). According to the bank, in line with the trend of narrowing losses, management reiterated its previously adjusted EBITDA goal of achieving balance of payments next year.