J.P. Morgan Sticks to Its Buy Rating for Wuxi Biologics (Cayman) (WXIBF)

J.P. Morgan analyst Yang Huang maintained a Buy rating on Wuxi Biologics (Cayman) on August 21 and set a price target of HK$37.00. The company’s shares closed last Friday at $4.20.

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According to TipRanks, Huang is a 5-star analyst with an average return of 47.5% and a 70.59% success rate. Huang covers the Healthcare sector, focusing on stocks such as Innovent Biologics, Wuxi Biologics (Cayman), and Akeso, Inc..

Currently, the analyst consensus on Wuxi Biologics (Cayman) is a Strong Buy with an average price target of $4.48, implying a 6.67% upside from current levels. In a report released on August 21, Macquarie also maintained a Buy rating on the stock with a HK$40.00 price target.

Based on Wuxi Biologics (Cayman)’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $10.1 billion and a net profit of $1.86 billion. In comparison, last year the company earned a revenue of $8.54 billion and had a net profit of $1.13 billion