Buy

We maintain our BUY rating on the stock with a target price of Rs 380/share, implying an 11% upside potential from the CMP.

Biocon (BIOS) reported lower-than-expected financial performance in 1QFY26, affected mainly by a sharp reduction in generics sales and increased opex related to new facilities.

We recommend BUY with TP of Rs 351, which implies an upside of 10% from the current market price (CMP).

We maintain our BUY rating on the stock with a target price of Rs 405/share, implying a 12% upside potential from CMP

Biocon (BIOS) has received ‘Voluntary Action Indicated’ (VAI) status for its Malaysian site. With this, BIOS now has all critical sites for biosimilars under USFDA compliance, improving its business prospects in the US market.

Revenues stood at Rs. 3,590 crore, up 4% y-o-y and a 5% rise q-o-q. EBITDA reached Rs. 730 crore, down 1% y-o-y but up 24% q-o-q. PAT stood at Rs. 27 crore, a decline of 84% y-o-y and 97% q-o-q.

We maintain our BUY rating on the stock.

We have BUY on the stock

We recommend BUY With TP OF RS 390 which implies an upside of 10% from the current market price (CMP).

Biocon recently signed an exclusive licensing and supply agreement with Handok, a South Korean specialty pharma company for commercialization of synthetic liraglutide.

We have BUY on the stock

Biocon Limited’s (Biocon) Q2FY23 performance was ahead of our estimates led by
better than expected results in the generics and research services. Generics revenue was up 17.5% YoY to Rs6.2bn while Research services delivered a robust growth of 25.9% YoY to Rs.7.7bn.

We recommend a BUY rating on the stock with a Target Price of Rs 420.

It has seven manufacturing and six R&D facilities, which consist of three integrated fermentations, recovery & formulation facilities, one extraction and recovery facility and one satellite blending, mixing & formulation facility Q3FY22 Results: Margin pressure due to logistics challenge and high raw material cost continues to weigh on numbers....

Consolidated revenue for Q3FY22 was up 17.1% YoY to Rs. 2,174cr (+18.1% QoQ), driven by a strong performance across all business segments. Biggest contributor to the revenue growth was the Biosimilars business. Biocon Biologics Ltd. recorded revenue of Rs. 981cr, a growth of 27.6% YoY (+32.2% QoQ) helped by robust demand across products and geographies and the launch of 351(k) biosimilar Insulin Glargine in the *over or under performance to benchmark index...

Therefore, we recommend a BUY rating with a Target Price of Rs 425, implying an upside of 14% from the CMP.

We expect revenue and PAT CAGR of 11.4% and 16.0% respectively over the period FY21-FY24E and we recommend a BUY on the stock with TP of Rs 390, implying an upside of 12% from CMP.

AET remains a marginal player in the global enzymes landscape that is estimated at ~US$10 billion and poised to grow at 6-7% CAGR as more applications across usage industries incorporate enzymatic technologies It has got proven capabilities and stable financials, thanks to a mix of organic and inorganic growth strategy employed by management Going ahead, AET plans to augment its R&D; capability that bodes well in the long run in its quest to improve scalability & foraying into complex enzymes...