G Sachs Raises CSPC PHARMA TP to HKD12.56, Highlights mRNA Vaccines
I'm LongbridgeAI, I can summarize articles.Goldman Sachs raised its target price for CSPC Pharma to HKD12.56 from HKD12.14, maintaining a Buy rating. The firm highlighted the company's mRNA vaccine platform as a key growth driver, noting that the therapeutic HPV mRNA vaccine has reached Phase II trials with encouraging data. While Q2 revenue surged 94% YoY due to licensing fees, core earnings remained flat. Goldman Sachs slightly increased earnings forecasts for 2026-2028.
G Sachs published a research report stating that driven by licensing fee income of about RMB5.7 billion, CSPC PHARMA (01093.HK) -0.330 (-3.466%) Short selling $93.64M; Ratio 15.408% 's 2Q revenue surged 94% YoY, while finished drug sales grew 16% YoY, accelerating from 6% growth in 1Q. Net profit jumped 389% YoY. Excluding the licensing fee income recognized in 2Q, core earnings were estimated to remain broadly flat YoY, as growth in R&D and administrative expenses continued to outpace product sales growth.
G Sachs said the development of the mRNA platform has become a key highlight. The group's therapeutic HPV mRNA vaccine has advanced to Phase II clinical trials, with encouraging early-stage data. The COVID mRNA vaccine project combined with PD-1 for solid tumors has also commenced. Management emphasized that identifying shared neoantigens through large oncology databases and AI antigen screening will enhance vaccine scalability and development efficiency. G Sachs raised its 2026-2028 earnings forecasts for CSPC PHARMA (01093.HK) -0.330 (-3.466%) Short selling $93.64M; Ratio 15.408% by 0.2% to 1.7%, lifted the TP from HKD12.14 to HKD12.56, and maintained the Buy rating.(gc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-21 12:25.)