Goldman Sachs: The target price for the “buy” rating of Hanson Pharmaceuticals (03692) was raised to HK$52.7

The Zhitong Finance App learned that Goldman Sachs released a research report saying that Hanson Pharmaceuticals (03692)'s performance in the first half of the year beat expectations. Driven by innovative drug sales, operating leverage and investment income, the target price was raised from HK$50.1 to HK$52.7, and the 2026 profit forecast was raised by 15%, with a “buy” rating. Management reaffirmed the guidance for double-digit growth in product sales and BD revenue in FY2026, supported by a strong product pipeline and a new product cycle expected to begin in 2027. The bank believes that the second wave of innovative products and ADC product lines will be a key growth driver, moving the portfolio from a single product to diversification to support sustainable long-term growth.