Nomura Raises PHARMARON TP to HKD32.2 on Higher FY Revenue Forecast Driven by Order Backlog
I'm LongbridgeAI, I can summarize articles.Nomura raised PHARMARON'starget price to HKD32.2 from HKD27.33, maintaining a Buy rating. This adjustment follows an increased FY2026 revenue forecast driven by strong order backlog and expected Q2 revenue growth of 19.4% YoY. While the earnings forecast was lowered by 7.6% due to negative foreign exchange impacts, gross margins are projected to rise to 35.1%. Nomura anticipates robust H2 performance with net profit expected to grow 27% YoY.
Nomura published a research report forecasting that PHARMARON (03759.HK) +0.060 (+0.254%) Short selling $2.80M; Ratio 4.374% 's 2Q26 revenue will grow 19.4% YoY to about RMB4 billion. Among them, laboratory services and chemistry, manufacturing and controls services are expected to increase 20% and 25% YoY respectively. Driven by a higher contribution from high-margin laboratory services, gross margin is expected to rise to 35.1%, while net profit is estimated to grow 9.3% YoY to RMB433 million.
On expectations of strong 1H26 results and a solid order backlog, which is expected to grow more than 30% YoY, Nomura raised its FY2026 revenue forecast for PHARMARON by 2%, while lowering its earnings forecast by 7.6% to reflect negative foreign exchange impacts. Nomura currently forecasts the company's 2H26 revenue to grow 16.6% YoY to RMB8.9 billion, with net profit expected to increase 27% YoY to RMB1.2 billion. It maintained a Buy rating and raised the TP from HKD27.33 to HKD32.2.(gc/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-27 12:25.)