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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  WuXi Biologics (Cayman) Inc.    2269   KYG970081090

WUXI BIOLOGICS (CAYMAN) INC.

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WuXi Biologics Cayman : Shares Soar on Upbeat Revenue Guidance, China's Vaccine Progress

10/21/2020 | 01:01am EST

By Yifan Wang

Shares of Wuxi Biologics (Cayman) Inc. rose sharply in Wednesday morning trade in Hong Kong, as investor sentiment was boosted by the firm's upbeat earnings guidance and progress on China's Covid-19 vaccine development.

The biotech company's shares surged as much as 16%, touching a record high of 233 Hong Kong dollars (US$30.06) and driving its market capitalization over HK$300 billion for the first time.

The company raised its revenue growth guidance for 2021 to 50% in a recent business update conference call, buoying investor and analyst optimism on its outlook.

Wuxi Biologics also introduced its new strategy of focusing more on late-stage projects, which U.S. investment bank Goldman Sachs expects to become a new growth engine for the firm.

Brokerage Daiwa Capital points to Wuxi's strong contract wins in Covid-19-related areas. "We believe Wuxi Bio will continue to benefit from its growing global competency during the Covid-19 pandemic," it said in a research note.

The company's share price surge also came as Chinese authorities on Tuesday provided an upbeat update on the country's vaccine development, projecting annual production capacity to reach 610 million units by year-end.

Wuxi Biologics shares were last up 12% at HK$225.00.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

10-21-20 0100ET

Stocks mentioned in the article
ChangeLast1st jan.
THE GOLDMAN SACHS GROUP, INC. -0.48% 235.4 Delayed Quote.2.87%
WUXI BIOLOGICS (CAYMAN) INC. -0.20% 74.95 End-of-day quote.127.93%
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More news
Financials
Sales 2020 5 396 M 821 M 821 M
Net income 2020 1 463 M 223 M 223 M
Net cash 2020 3 764 M 573 M 573 M
P/E ratio 2020 179x
Yield 2020 -
Capitalization 263 B 40 081 M 40 081 M
EV / Sales 2020 48,1x
EV / Sales 2021 33,2x
Nbr of Employees 5 694
Free-Float -
Chart WUXI BIOLOGICS (CAYMAN) INC.
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WuXi Biologics (Cayman) Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends WUXI BIOLOGICS (CAYMAN) INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Average target price 76,93 CNY
Last Close Price 64,54 CNY
Spread / Highest target 213%
Spread / Average Target 19,2%
Spread / Lowest Target -10,8%
EPS Revisions
Managers
NameTitle
Zhi Sheng Chen Chief Executive Officer & Executive Director
Ge Li Non-Executive Chairman
Shao Hua Lu-Wong Chief Financial Officer
Weichang Zhou Executive Director, Chief Technology Officer & EVP
Edward Hu Non-Executive Director