Market Overview

UPDATE: Aegis Capital Reiterates Buy Rating, Raises PT on China Biologic Products

Related CBPO
Clovis Oncology (CLVS) Falls: Stock Goes Down 6.8% - Tale of the Tape
NewLink Genetics Corp. (NLNK) Jumps: Stock Adds 8.6% in Session - Tale of the Tape

In a report published Friday, Aegis Capital Corp. reiterated its Buy rating on China Biologic Products (NASDAQ: CBPO), and raised its price target to $22.00 price target.

Aegis Capital noted, “Recently, China's National Development and Reform Commission (NDRC) announced a new round of maximum retail price adjustment for drugs in the categories of respiratory, antipyretic, analgesic and specialty medications, with average price reduction of 15%, effective on Feb 1st, 2013. Interestingly, price ceilings for plasma-based products were raised. Notably, prices for various doses of human albumin would see an increase of approximately 5%. We note that the price ceiling of 10g/50ml human albumin, which is used as a representative by NDRC, was set at ¥330 in 2000 and reduced to ¥259 in 2006. However, it was raised to ¥360 in 2007 to balance the short supply and strong demand, with imported human albumin being allowed to charge 5% more. The current price of ¥378 essentially lets domestic manufacturers charge the same price as their foreign counterparts in China. Human albumin represents 54.5% and 45.3% of China Biologic's 2011 and 9-month 2012 total revenue, respectively.”

China Biologic Products closed on Thursday at $18.90.

Latest Ratings for CBPO

Nov 2014JefferiesMaintainsBuy
Sep 2014Aegis CapitalReiteratesBuy
Jul 2014JefferiesMaintainsBuy

View More Analyst Ratings for CBPO
View the Latest Analyst Ratings

Posted-In: Aegis Capital Corp.Analyst Color Price Target Analyst Ratings


Related Articles (CBPO)

Around the Web, We're Loving...