On July 10, Pharmaron (03759.HK) rose 5.93% in regular trading, trading at HK$21.6/share, with turnover of HK$62.87 million.

On the news front, Daiwa recently initiated coverage on Pharmaron H-shares with a Buy rating and a target price of HK$25.5, implying approximately 18% upside from the current price. Daiwa noted that the company benefits from the recovery in global biopharma financing and sustained outsourcing demand from multinational pharmaceutical and biotech clients. The brokerage expects the laboratory services segment to grow 13-15% in revenue from 2026 to 2028, while the CMC business is projected to achieve a 24% compound annual growth rate over the same period as it moves toward commercialization.

Daiwa highlighted that Pharmaron's new order signings grew over 30% year-over-year in Q1, supporting confidence in the company's full-year revenue growth guidance of 12-18%. Within the Life Sciences Tools and Services sector, peers also posted gains, with WuXi AppTec up 4.70%, WuXi Bio up 4.37%, and WuXi XDC up 3.03%.

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