Morgan Stanley Cuts 3SBIO (01530) Target Price to HK$34, Keeps "Overweight" Rating

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Apr 14

Morgan Stanley has released a research report incorporating 3SBIO's (01530) 2025 performance forecast. The report lowers the sales forecast and milestone payment expectations for the company's core commercial product TPIAO, primarily due to the impact of USD depreciation against the RMB. Consequently, Morgan Stanley has revised down its revenue forecasts for 3SBIO for the years 2026 to 2028 by 5%, 7%, and 6% respectively. The report also adjusts the product gross margin forecast based on recent trends and modifies the operating expense ratio. Earnings per share forecasts for the same period have been lowered by 8.3%, 14.5%, and 12.4% respectively. The target price has been reduced from HK$38 to HK$34, while the "Overweight" rating is maintained.

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The report lowers the sales forecast and milestone payment expectations for the company's core commercial product TPIAO, primarily due to the impact of USD depreciation against the RMB. Consequently, Morgan Stanley has revised down its revenue forecasts for 3SBIO for the years 2026 to 2028 by 5%, 7%, and 6% respectively. The report also adjusts the product gross margin forecast based on recent trends and modifies the operating expense ratio. Earnings per share forecasts for the same period have been lowered by 8.3%, 14.5%, and 12.4% respectively. The target price has been reduced from HK$38 to HK$34, while the \"Overweight\" rating is maintained.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley Cuts 3SBIO (01530) Target Price to HK$34, Keeps \"Overweight\" Rating</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMorgan Stanley Cuts 3SBIO (01530) Target Price to HK$34, Keeps \"Overweight\" Rating\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-04-14 11:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Morgan Stanley has released a research report incorporating 3SBIO's (01530) 2025 performance forecast. The report lowers the sales forecast and milestone payment expectations for the company's core commercial product TPIAO, primarily due to the impact of USD depreciation against the RMB. Consequently, Morgan Stanley has revised down its revenue forecasts for 3SBIO for the years 2026 to 2028 by 5%, 7%, and 6% respectively. The report also adjusts the product gross margin forecast based on recent trends and modifies the operating expense ratio. Earnings per share forecasts for the same period have been lowered by 8.3%, 14.5%, and 12.4% respectively. The target price has been reduced from HK$38 to HK$34, while the \"Overweight\" rating is maintained.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1593","symbol_name":"医美概念股","start_time":0,"source_url":"","article_id":"1164413996","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1164413996","pubTimestamp":1776138036,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Morgan Stanley has released a research report incorporating 3SBIO's (01530) 2025 performance forecast. 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