Biocon Ltd saw its shares rise nearly 4% in early trading, reaching ₹379, following HSBC’s upgrade of the stock to a ‘Buy’ rating. The brokerage significantly raised its target price for Biocon from ₹290 to ₹430, highlighting key catalysts for the company’s growth.
HSBC’s Key Insights
- Operational Turnaround: HSBC emphasized Biocon’s strong operational recovery, driven by new biosimilar launches and a rebound in generics sales.
- US FDA Clearance: The recent clearance of Biocon’s Malaysia facility by the US FDA has resolved GMP-related concerns, setting the stage for future growth.
- Upcoming Milestones: The launch of Insulin Aspart from the Malaysia facility is expected to be a major growth driver.
- Biosimilar Pipeline: A robust portfolio of biosimilars is poised to enhance Biocon’s market positioning and earnings potential.
Biocon Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Mon, Jan 13 2025
|
₹371.00
|
₹365.20
|
|
|
Fri, Jan 10 2025
|
₹369.95
|
₹360.95
|
-2.63%
|
|
Thu, Jan 9 2025
|
₹371.20
|
₹370.70
|
-0.13%
|
|
Wed, Jan 8 2025
|
₹381.00
|
₹371.20
|
-2.92%
|
|
Tue, Jan 7 2025
|
₹363.10
|
₹382.35
|
|
|
Mon, Jan 6 2025
|
₹369.45
|
₹358.10
|
-3.02%
|
|
Fri, Jan 3 2025
|
₹376.95
|
₹369.25
|
-1.07%
|
|
Thu, Jan 2 2025
|
₹368.80
|
₹373.25
|
|
TOPICS:
Biocon