---
title: "Analyst Maintains Buy on iX Biopharma, Sees Post-FY26 Transition Driving Strong FY27+ Rebound and Keeps DCF-Based S$1.00 Target Price"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/297658944.md"
description: "Phillip Securities analyst Paul Chew maintains a Buy rating on iX Biopharma with a S$1.00 target price. He views FY26 revenue disruption and higher expenses as transitional, citing the US$40.9mn Wafermine programme and Orion Speciality partnership. Strong FY27+ rebound is expected from Wafermine milestones and new production lines."
datetime: "2026-09-01T13:15:34.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/297658944.md)
  - [en](https://longbridge.com/en/news/297658944.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/297658944.md)
generator: "portal-rs"
---

# Analyst Maintains Buy on iX Biopharma, Sees Post-FY26 Transition Driving Strong FY27+ Rebound and Keeps DCF-Based S$1.00 Target Price

iX Biopharma Ltd., the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Paul Chew from Phillip Securities maintained a Buy rating on the stock and has a S$1.00 price target.

Paul Chew has given his Buy rating due to a combination of factors including the strong strategic positioning of iX Biopharma and the visibility of upcoming catalysts. Despite FY26 results falling short of forecasts, he views the short-term revenue disruption and higher expenses as largely transitional, driven by the relocation of equipment and one-off professional and share-based costs.

At the same time, he highlights the significant value of the US$40.9mn Department of Defense–funded Wafermine programme and the expected scale-up of US compounding pharmacy operations with partner Orion Speciality. He forecasts a sharp revenue acceleration from FY27 onward, supported by Wafermine EUA milestones, new production lines coming onstream, and expanding development-service income, and therefore maintains an unchanged DCF-based target price of S$1.00 with a Buy recommendation.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**