Broker research reports for stocks which have been downgraded by brokers. Both recommendation downgrades,
as well as share price target downgrades are available for companies in Industry - Biotechnology.
Broker Research reports: latest Downgrades
for Industry - Biotechnology
*over or under performance to benchmark index Biocon Ltd is a biopharmaceutical company that develops therapies for chronic diseases such as autoimmune, cancer and diabetes. The company has developed and introduced novel biologics, biosimilars, differentiated small molecules and affordable recombinant human insulin and analogues. In Q1FY26, Biocon's consolidated revenue grew 14.8% YoY to Rs. 3,942cr, driven...
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.
Biocon’s Q1FY24 performance was dragged by the biologics biz. Profitability of the segment was under pressure owing higher rebates in Fulphila (USD 15mn). Segmental PBT dropped 600bps QoQ to 1.6% in Q1FY24. US market share of Fulphila and Ogivri expanded by 200bps and 100bps QoQ to 16% and 11%, and stable at 12% for bGlargine.
Biocon Limited’s (Biocon) Q4FY23 performance was boosted by consolidation of the acquired business of biosimilars (segment revenue up 114% YoY) from Viatris. Reported gross margin was inflated by ~150bps and EBITDA margin by 360bps due to licensing income of Rs1.75bn.
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.
Management indicated that R&D costs will increase in the upcoming quarters which may pose threat to the current margins of the company. We, therefore, recommend a HOLD rating on the stock with a TP of Rs 310/share.
