＜Research＞BofAS Cuts SINO BIOPHARM (01177.HK) TP to $3.4, Rating Buy

　　The May sales volume of flurbiprofen/ budesonide/ esomeprazole/ iodixanol, SINO BIOPHARM (01177.HK) -0.030 (-1.060%) Short selling $22.91M; Ratio 23.609% 's VBP involved products, fell by 10.9%/ 10.3%/ 5.1%/ 1.9%, respectively, while the sales volume of other core products also dropped by about 6-15% MoM, BofA Securities released a research report saying.

　　The sales performance of VBP involved products such as Entecavir and Calcitriol were weak, and may face further price cut pressures, BofA Securities added.

　　Therefore, BofA Securities lowered its 2024-2026 revenue forecasts for SINO BIOPHARM by 0.4%/ 0.4%/ 0.3% each, and cut its target price from $3.8 to $3.4, but still reiterated rating at Buy.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-09 16:25.)

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