Goldman Sachs: WuXi AppTec's last quarter profit exceeded expectations, follow the momentum of new orders and clinical CRO business.

2025-10-28 05:18:30

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Jin10 data reported on October 28, Goldman Sachs published a research report indicating that the market is expected to respond positively to WuXi AppTec (02359.HK) strong performance and new order momentum, although the slowdown in the growth of TIDES (oligonucleotide and peptide) order backlog may spark some controversy. WuXi AppTec's third-quarter revenue reached 12.1 billion yuan, a year-on-year rise of 15.3%, or a year-on-year rise of 19.7% based on continuing operations. Notably, the TIDES business grew 91% year-on-year, accounting for 23% of current total revenue. Goldman Sachs set a 12-month target price of HKD 109.6 for WuXi AppTec's Hong Kong stock, based on a 12-month forward price-to-earnings ratio of 18 times. WuXi AppTec (603259.SH) A-shares have a target price of 105.6 yuan.

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