创新药概念股逆市走强 三生制药(01530)涨9.68% 机构看好创新药长期逻辑

金吾财讯
Oct 31, 2025

金吾财讯 | 创新药概念股逆市走强,截至发稿,三生制药(01530)涨9.68%,信达生物(01801)涨6.26%,科伦博泰生物-B(06990)涨5.60%,欧康维视生物-B(01477)涨5.04%,复星医药(02196)涨4.93%,歌礼制药-B(01672)涨4.40%,恒瑞医药(01276)涨3.99%,先声药业(02096)涨3.63%,石药集团(01093)涨3.48%。

消息面上,平安基金周思聪表示,并对未来行情作出展望。她指出,创新药这轮调整已持续约三个月,无论从时间还是空间来看,都已比较充分。下一阶段的行情驱动力,将从情绪推动的BD预期,逐步转向基本面驱动。她依然相信创新药的长期趋势未变,长期资金入场逻辑依然成立。中国创新药的行情远未结束。从产品周期和盈利周期来看,这轮行情应是一轮持续三年以上的大趋势。当前创新药估值处于中等水平,港股估值可能更低。由于前期跌幅较深,整体估值处于中等偏上水平,但近期调整后,交易拥挤度已有所释放。今年半年度时创新药交易量一度非常拥挤,目前资金面拥挤程度明显缓解。国信证券发布研报称,器械板块有望迎来“政策优化+景气回升+业绩复苏”下的估值修复机会。25年以来医疗设备招投标持续回暖,随着库存逐步消耗,部分企业25Q3业绩有望反转。高值耗材过往受集采和关税影响压制业绩和估值,集采反内卷和关税缓和背景下估值修复机会大,出海潜力足。体外诊断受医保控费政策冲击较大,集采有望加速进口替代和龙头集中。家用器械中的热门单品国内市场规模快速提升,国产龙头出海布局方兴未艾,业绩呈加速复苏态势。

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10