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[Pharmaceutical Network Pharmaceutical Stock Market] A total of 13 institutions in Hengrui Medicine have given ratings in the past 90 days, 12 with buy ratings and 1 with overweight ratings
.
For example, in the past two days, Sinolink Securities and Huaxi Securities both gave Hengrui Medicine a buy rating
.
Among them, China Gold Securities stated in the research report that Hengrui Medicine has firmly increased R&D investment.
In the first half of the year, R&D investment increased by 12.
74% year-on-year to 2.
909 billion yuan, accounting for 28.
44% of sales revenue, of which expensed R&D investment was 2.
184 billion yuan.
, the R&D expense rate was 21.
36%
.
At present, the company has 11 innovative drugs approved for the market, and more than 60 innovative drugs are under clinical development.
This year, the medical insurance negotiating company will have 3 new products: Dalcil, Henggliflozin, Revelutamide, as well as PD- 1.
A number of new indications of pyrotinib and remazolam meet the application conditions, and it is expected that the company's innovative drug pipeline will gradually usher in the harvest period
.
Sinolink Securities also stated that Hengrui Medicine has established a number of new technology platforms with independent intellectual property rights, including PROTAC, molecular glue, ADC, double antibody/poly antibody, gene therapy, mRNA, bioinformatics, translational medicine,
etc.
Hengrui Medicine continues to steadily promote its internationalization strategy.
In the first half of 2022, it invested a total of 519 million yuan in overseas research and development, conducted a total of nearly 20 international clinical trials, and continued to promote overseas registration applications for generic drugs
.
The agency predicts that Hengrui Medicine's net profit attributable to the parent in 2022-2024 will be 4.
5/4.
9/5.
7 billion yuan, corresponding to 51/46/40 times the PE in 2022-2024, maintaining a "buy" rating
.
West China Securities also stated in the research report that Hengrui Medicine has increased investment in research and development, and many innovative drugs are in the early stage of high-speed volume, such as the company's fluzoparib, hetrombopag, remazolam, dalcili, and revelutamide.
Other innovative drugs have just been approved or have just entered medical insurance, and are in the early stage of high-speed and high-volume volume
.
Huaxi Securities said that due to the impact of the epidemic, the profit forecast of Hengrui Medicine was adjusted
.
The forecast of 2022-2023 operating income of 31.
1/36.
9 billion yuan is lowered to 225/25.
7/30 billion yuan in 2022-2024, and the forecast of 2022-2023 EPS of 1.
12/1.
36 yuan is lowered to 0.
68/0.
83/1.
03 of 2022-2024 RMB, corresponding to the closing price of RMB 35.
9 per share on August 19, 2022, with a PE of 53/44/35 times, respectively, maintaining the company's "buy" rating
.
It is understood that on the evening of August 19, Hengrui Pharmaceutical released a performance report for the first half of 2022.
The report shows that in the first half of the year, the company achieved operating income of 10.
228 billion yuan and net profit attributable to the parent of 2.
119 billion yuan
.
Hengrui Medicine said that the decline in generic drug revenue, the implementation of new medical insurance negotiated prices for many innovative drugs, and the impact of the domestic epidemic on the company's product sales have led to a significant decline in the company's revenue
.
The impact on profits also includes the continued increase in the prices of major raw and auxiliary materials and energy, the continuous increase in logistics costs, and the continued steady increase in R&D investment
.
However, in the face of the increasingly complex internal and external environment, the company actively responds to national policies, constantly adapts to the higher requirements brought about by industrial changes, and continues to steadily promote technological innovation and internationalization strategies
.
According to the report, Hengrui Medicine adheres to both independent research and development and open cooperation, strengthens international cooperation on the basis of endogenous development, and will actively explore exchanges and cooperation with multinational pharmaceutical companies to achieve rapid transformation of research and development results
.
Analysts believe that this may indicate that Hengrui Medicine, which has long insisted on self-research, may adopt a more open attitude in internationalization
.
According to the report, in terms of internationalization, Hengrui Medicine invested 519 million yuan in overseas research and development in the first half of the year, accounting for 17.
85% of the total research and development investment.
.
Disclaimer: Under no circumstances does the information or opinions expressed in this article constitute investment advice to anyone
.
.
For example, in the past two days, Sinolink Securities and Huaxi Securities both gave Hengrui Medicine a buy rating
.
Among them, China Gold Securities stated in the research report that Hengrui Medicine has firmly increased R&D investment.
In the first half of the year, R&D investment increased by 12.
74% year-on-year to 2.
909 billion yuan, accounting for 28.
44% of sales revenue, of which expensed R&D investment was 2.
184 billion yuan.
, the R&D expense rate was 21.
36%
.
At present, the company has 11 innovative drugs approved for the market, and more than 60 innovative drugs are under clinical development.
This year, the medical insurance negotiating company will have 3 new products: Dalcil, Henggliflozin, Revelutamide, as well as PD- 1.
A number of new indications of pyrotinib and remazolam meet the application conditions, and it is expected that the company's innovative drug pipeline will gradually usher in the harvest period
.
Sinolink Securities also stated that Hengrui Medicine has established a number of new technology platforms with independent intellectual property rights, including PROTAC, molecular glue, ADC, double antibody/poly antibody, gene therapy, mRNA, bioinformatics, translational medicine,
etc.
Hengrui Medicine continues to steadily promote its internationalization strategy.
In the first half of 2022, it invested a total of 519 million yuan in overseas research and development, conducted a total of nearly 20 international clinical trials, and continued to promote overseas registration applications for generic drugs
.
The agency predicts that Hengrui Medicine's net profit attributable to the parent in 2022-2024 will be 4.
5/4.
9/5.
7 billion yuan, corresponding to 51/46/40 times the PE in 2022-2024, maintaining a "buy" rating
.
West China Securities also stated in the research report that Hengrui Medicine has increased investment in research and development, and many innovative drugs are in the early stage of high-speed volume, such as the company's fluzoparib, hetrombopag, remazolam, dalcili, and revelutamide.
Other innovative drugs have just been approved or have just entered medical insurance, and are in the early stage of high-speed and high-volume volume
.
Huaxi Securities said that due to the impact of the epidemic, the profit forecast of Hengrui Medicine was adjusted
.
The forecast of 2022-2023 operating income of 31.
1/36.
9 billion yuan is lowered to 225/25.
7/30 billion yuan in 2022-2024, and the forecast of 2022-2023 EPS of 1.
12/1.
36 yuan is lowered to 0.
68/0.
83/1.
03 of 2022-2024 RMB, corresponding to the closing price of RMB 35.
9 per share on August 19, 2022, with a PE of 53/44/35 times, respectively, maintaining the company's "buy" rating
.
It is understood that on the evening of August 19, Hengrui Pharmaceutical released a performance report for the first half of 2022.
The report shows that in the first half of the year, the company achieved operating income of 10.
228 billion yuan and net profit attributable to the parent of 2.
119 billion yuan
.
Hengrui Medicine said that the decline in generic drug revenue, the implementation of new medical insurance negotiated prices for many innovative drugs, and the impact of the domestic epidemic on the company's product sales have led to a significant decline in the company's revenue
.
The impact on profits also includes the continued increase in the prices of major raw and auxiliary materials and energy, the continuous increase in logistics costs, and the continued steady increase in R&D investment
.
However, in the face of the increasingly complex internal and external environment, the company actively responds to national policies, constantly adapts to the higher requirements brought about by industrial changes, and continues to steadily promote technological innovation and internationalization strategies
.
According to the report, Hengrui Medicine adheres to both independent research and development and open cooperation, strengthens international cooperation on the basis of endogenous development, and will actively explore exchanges and cooperation with multinational pharmaceutical companies to achieve rapid transformation of research and development results
.
Analysts believe that this may indicate that Hengrui Medicine, which has long insisted on self-research, may adopt a more open attitude in internationalization
.
According to the report, in terms of internationalization, Hengrui Medicine invested 519 million yuan in overseas research and development in the first half of the year, accounting for 17.
85% of the total research and development investment.
.
Disclaimer: Under no circumstances does the information or opinions expressed in this article constitute investment advice to anyone
.
