Tigermed, Kain Technology, Beida Pharmaceutical and other pharmaceutical companies have been rated as "buy" by institutions

【Pharmaceutical Network Pharmaceutical Stock Market】 From August 24-26, a number of institutions gave buy ratings to related pharmaceutical companies, and Soochow Securities gave Tigermed a buy rating; Guojin Securities gave Kain Technology and Brilliant Pharmaceutical a buy rating; Huaan Securities and Guosheng Securities gave Beida Pharmaceutical a buy rating.
Steady growth in performance Soochow Securities gives Tigermed a buy rating On August 26, Soochow Securities released a research report saying that It gave Tigermco a buy rating
.

The reasons for the rating mainly include: 1) steady and rapid growth of the main business; 2) The number of projects implemented continues to grow under the disturbance of the epidemic; 3) Subsidiary Fangda Holdings has laid out pre-clinical business and is expected to form a pre-clinical + clinical collaborative service model
.

Soochow Securities maintains its profit forecast for 2022-2024, expecting Tigermed's revenue to be 7.
036 billion yuan, 8.
665 billion yuan and 10.
675 billion yuan, respectively; the net profit attributable to the mother is 3.
417 billion yuan, 4.
043 billion yuan and 4.
691 billion yuan, respectively; the corresponding valuation of the current stock price is 26×, 22×, 1900 ×, maintaining the "buy" rating
.

Recently, Tigermed released its mid-year performance report showing that in the first half of 2022, the company achieved revenue of 3.
594 billion yuan, an increase of 74.
78% year-on-year, net profit attributable to the mother of 1.
192 billion yuan, a year-on-year decrease of 5.
02%, and deduction of non-attributable net profit of 771 million yuan, an increase of 42.
12%
year-on-year.

R&D investment continues to increase Guojin Securities gives Kaiyin Technology and Brilliant Pharmaceutical a buy rating On August 25, Guojin Securities released a research report entitled "R&D Investment Continues to Increase, Focusing on the Commercialization of Innovative Drugs", giving Kain Technology a buy rating
.

The reasons for the rating mainly include: 1) Focus on innovative drugs, and the access of Kailiwei is progressing smoothly; 2) R&D investment continues to increase, accelerating the layout of hepatitis B functional cure pipeline; 3) Mature products JinShuxi and Kaiyin Yisheng maintain a high status
.

It is reported that Kaiyin's research and development investment in science and technology continues to increase, accelerating the layout
of the hepatitis B functional cure pipeline.

In the first half of the year, the company invested 71.
97 million yuan in research and development, an increase of 82.
92% year-on-year; R&D investment accounted for 14.
60% of revenue, an increase of 5.
92 percentage points year-on-year; R&D expenses as a percentage of revenue reached 10.
51%.
Guojin Securities expects that from 2022 to 2024, the net profit attributable to Kaiyin Technology will be 1.
25/1.
50/179 million yuan, respectively, an increase of 17%/20%/19% year-on-year, corresponding to PE 22/19/176 times, maintaining a "buy" rating
.

On the same day, Guojin Securities issued a research report saying that it gave Brilliant Pharmaceutical a buy rating
.

The reasons for the rating mainly include: 1) the sales of APIs are basically the same as in previous years, and the sales of preparations are rapid; 2) High investment in research and development, generic drugs focus on high-end inhalation preparations, and innovative drugs focus on the layout of conjugated drug platforms
.

It is reported that The R&D investment of Brilliant Pharmaceutical in the first half of this year was 93.
85 million yuan, an increase of 18.
29% year-on-year, and the R& D expense ratio was 18.
76%.


The company is transforming
from an API manufacturer to an innovative pharmaceutical enterprise.

Sales of listed products continue to grow, Huaan Securities and Guosheng Securities give Beida Pharmaceutical a buy rating On August 24, Huaan Securities issued a research report saying that it gave Beida Pharmaceutical a buy rating
.

The rating reasons mainly include: 1) commercial product Lectra epidemic, continuous cash sales; 2) The research and development and declaration of new drugs continue to advance; 3) Strategic cooperation has been continuously strengthened
.

It is reported that Beida Pharmaceutical has always adhered to the core strategy of innovation, deeply cultivated the field of lung cancer and other cancer treatments, and laid out a rich and diverse R&D pipeline
around multiple targets such as EGFR, ALK, VEGF, CDK4/6 and so on.

Among them, through the maintenance of Kemena's price system, the company continuously improved the coverage of hospitals and the access of pharmacy medical insurance, and the sales volume of EGFR-TKI Kemena continued to cash in, with sales volume increasing by 37.
4%
year-on-year.

Huaan Securities expects that the revenue of Beida Pharmaceutical in 2022-2024 will be 2.
836 billion yuan, 3.
916 billion yuan and 5.
497 billion yuan respectively, an increase of 26.
3%, 38.
1% and 40.
4% respectively; From 2022 to 2024, the net profit attributable to the mother was 425 million yuan, 588 million yuan and 827 million yuan respectively, an increase of 10.
9%, 38.
5% and 40.
7%
respectively.

It continues to be optimistic about Beda's commercialization capabilities, the expansion of existing product indications and the second growth curve brought by the subsequent pipeline, maintaining a "buy" rating
.

In addition, Guosheng Securities predicts that Beida Pharmaceutical is a scarce innovative drug target in A shares, exetinib continues to contribute stable cash flow, ensartinib is expected to increase rapidly, the echelon of follow-up research and development pipelines has gradually formed, the research and development team has overseas research and development experience + excellent research and development strength, the sales team is strong, optimistic about the company's long-term development, maintain the "buy" rating
.

According to the semi-annual report, it adjusted the profit forecast of Beida Pharmaceutical, and it is expected that the operating income of Beida Pharmaceutical in 2022-2024 will be 2.
845 billion yuan, 3.
768 billion yuan and 5.
459 billion yuan respectively, an increase of 26.
7%, 32.
4% and 44.
9% year-on-year; Attributable net profit was 396 million yuan, 521 million yuan and 765 million yuan respectively, an increase of 3.
4%, 31.
5% and 46.
8% year-on-year; The corresponding PE is 49 times, 37 times and 25 times
, respectively.

In addition, on August 25, Caitong Securities gave Jincheng Pharmaceutical a buy rating; UBS gives Zhongsheng Pharmaceutical a buy rating; Southwest Securities gave Ma Yinglong a buy rating and so on
.

Disclaimer: In no event shall the information or opinions expressed herein constitute investment advice
to any person.