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Investing.com - Jefferies has raised its price target on Pharmaron Beijing Co Ltd (HK:3759) to RMB28.00 from RMB22.00 while maintaining a Buy rating on the stock.
The price target increase follows Pharmaron’s first-half 2025 results, which Jefferies described as "in line" with expectations, noting that the company’s overall newly signed backlog grew by 10%.
Pharmaron’s management has maintained its fiscal year 2025 revenue growth guidance at 10-15% year-over-year, according to Jefferies.
The firm highlighted that Pharmaron’s Contract Manufacturing and Controls (CMC) business saw "solid new backlog growth of 20%," with contributions coming from later-stage projects, while its laboratory services are showing signs of recovery with rising demand from multinational companies.
Jefferies expects Pharmaron’s China laboratory service business to begin recovering in the second half of 2025, benefiting from increased out-licensing activity among Chinese biotech companies.
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