On June 4, Sino Biopharmaceutical declined 3.14% in regular trading, trading at HK$4.62 per share, with trading volume of HK$186 million.

On the news front, Morgan Stanley recently published a research report cutting the target price for Sino Biopharmaceutical from HK$8.3 to HK$7.8, while maintaining an Overweight rating. The bank incorporated the newly in-licensed bepirovirsen (HBV ASO), which is expected to contribute revenue starting from 2027. Meanwhile, based on management guidance, Morgan Stanley removed the dividend income assumption from Sinovac LS effective from 2026, resulting in EPS forecast cuts of 8%, 7%, and 7% for 2026 through 2028 respectively. The bank also adjusted working capital and capex assumptions to better reflect recent operational trends.

Additionally, the pharmaceutical sector faced broad-based selling pressure, with Luye Pharma down 12.9%, Hengrui Pharma down 4.39%, Simcere Pharma down 2.24%, and Hansoh Pharma down 1.78%, indicating systematic sector weakness exacerbating individual stock declines.

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