CSPC Pharma's Clinical Data Presentations Could be Near-Term Share Catalysts
Dow Jones
2 hours ago
0608 GMT - CSPC Pharmaceutical's coming clinical data presentations over the next two months could serve as near-term share-price catalysts, say DBS Group Research's Mark Kong and Nico Chen in a note. The Chinese pharmaceutical group is scheduled to present on several key products, including Phase 3 clinical data for its GLP-1 fusion protein to treat obesity and diabetes, the analysts say. The company's voluntary participation is seen as a sign of confidence in the data, the analysts say. CSPC trades around 18X its 2027 price-to-earnings ratio, which is a roughly 28% discount to the peer average and offers an attractive entry point, they say. DBS reinstates its coverage of CSPC with a buy rating and 13.70 Hong Kong dollar target price. Shares fall 4.2% to HK$8.72.
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