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Investing.com - JPMorgan has initiated coverage on Anthem Biosciences (ANTHEM:IN) with a Neutral rating and a price target of INR820.00.
The investment bank describes Anthem as an innovation-led, technology-focused CRDMO with leading capabilities in small molecule and fermentation manufacturing that is expanding into high-growth segments including ADCs, peptides and oligonucleotides.
JPMorgan forecasts a 26% EPS CAGR for Anthem over FY25-28E, citing support from technocrat promoters, robust financials, a healthy pipeline, proven execution and favorable industry tailwinds.
Since its listing on July 21, 2025, Anthem’s stock has risen 48% from its issue price, compared to a 1.0% decline for the NSE Pharma Index during the same period.
JPMorgan notes that at approximately 63x FY27E and 52x FY28E price-to-earnings ratios, Anthem’s valuations appear capped, implying an 18% premium to DIVI and a 45% premium to the sector average.
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