Nomura: Hengrui Medicine's second-quarter revenue is expected to increase by 12%, raising the target price to 59.15 yuan.

Nomura's report states that the second quarter revenue of Jiangsu Hengrui Medicine is expected to increase by 12%, reaching 8.5 billion RMB. Boosted by the continuous increase in sales of newly launched drugs and the expansion of indications, Nomura expects the second quarter drug sales to grow by 11.1% year-on-year, reaching 7.1 billion RMB. Nomura points out that considering the company's extensive research and development pipeline, the company may achieve one to two more external licensing deals, which could serve as the next catalyst for the stock. Nomura maintains a neutral rating on the stock and raises its target price from 53.45 RMB to 59.15 RMB.