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    2269   KYG970081173

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

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Analyst Recommendations on WUXI BIOLOGICS (CAYMAN) INC.
More recommendations
Financials
Sales 2021 9 752 M 1 540 M 1 540 M
Net income 2021 3 040 M 480 M 480 M
Net cash 2021 5 598 M 884 M 884 M
P/E ratio 2021 101x
Yield 2021 -
Capitalization 307 B 48 492 M 48 538 M
EV / Sales 2021 30,9x
EV / Sales 2022 21,1x
Nbr of Employees 7 686
Free-Float -
Chart WUXI BIOLOGICS (CAYMAN) INC.
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WuXi Biologics (Cayman) Inc. Technical Analysis Chart | 2269 | KYG970081173 | MarketScreener
Technical analysis trends WUXI BIOLOGICS (CAYMAN) INC.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Last Close Price 72,94 CNY
Average target price 126,46 CNY
Spread / Average Target 73,4%
EPS Revisions
Managers and Directors
Zhi Sheng Chen Director
Ming Tu Chief Financial Officer & Executive Vice President
Ge Li Non-Executive Chairman
Weichang Zhou Chief Technology Officer & Executive Director
William Robert Keller Independent Non-Executive Director
Sector and Competitors