Pharmaron Expands CRO Market Presence with Biortus Acquisition
Pharmaron Beijing Co., Ltd. has announced the acquisition of an 82.54% interest in Biortus, enhancing its presence in the CRO market. This acquisition, considered a connected transaction, was evaluated by comparing Biortus with four other industry companies, focusing on profitability. The move is expected to leverage Biortus' growth in revenue and profits. The latest analyst rating for Pharmaron's stock is a Buy with a HK$28.10 price target.
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Pharmaron Beijing Co., Ltd. Class H ( (HK:3759) ) has shared an update.
Pharmaron Beijing Co., Ltd. announced a supplemental update regarding its acquisition of an 82.54% interest in Biortus, a move that constitutes a connected transaction. The company conducted a comprehensive valuation of Biortus by comparing it with four other listed companies in the same industry, focusing on profitability as a key indicator. This acquisition is expected to strengthen Pharmaron’s position in the CRO market, leveraging Biortus’ steady growth in revenue and profits.
The most recent analyst rating on (HK:3759) stock is a Buy with a HK$28.10 price target. To see the full list of analyst forecasts on Pharmaron Beijing Co., Ltd. Class H stock, see the HK:3759 Stock Forecast page.
More about Pharmaron Beijing Co., Ltd. Class H
Pharmaron Beijing Co., Ltd. is a joint stock company based in China, primarily engaged in providing comprehensive drug research, development, and manufacturing services throughout the research and development cycle. Over 50% of its revenue is generated from Contract Research Organization (CRO) businesses.
YTD Price Performance: 67.45%
Average Trading Volume: 10,219,281
Technical Sentiment Signal: Buy
Current Market Cap: HK$57.23B
For a thorough assessment of 3759 stock, go to TipRanks’ Stock Analysis page.
