Shares of Mankind Pharma Ltd. gained nearly 6% on Friday, July 11, after brokerage firm Jefferies increased its price target on the healthcare firm, projecting an potential upside to 18% from its previous closing price.Jefferies has a “buy” rating on the stock and has raised its target price by 4.5% from र2,870 to र3,000 per share. The stock ended the previous session at र2,544 apiece.
The brokerage said it believes Mankind Pharma is poised for a recovery from here on. The stock has declined over 9% this year, so far.
Jefferies said it expects Mankind Pharma’s first and second quarters to be steep quarters. It said the company’s prescription drugs (Rx) growth is set to normalise in the second half.
It said BSV synergies will start reflecting in the 26% EBITDA margin guidance for the financial year 2026. Mankind Pharma had acquired Bharat Serums and Vaccines (BSV), a prominent player in the biologics and vaccines space, from Advent International for an enterprise value of ₹13,630 crore in July 2024, confirming a CNBC-TV18 newsbreak.Starting FY27, Mankind Pharma should achieve 1.5 times the growth seen in the Indian Pharmaceutical Market (IPM) and show further improvement in margins, Jefferies added.
The brokerage said it believes Mankind Pharma is poised for a recovery from here on. The stock has declined over 9% this year, so far.
Jefferies said it expects Mankind Pharma’s first and second quarters to be steep quarters. It said the company’s prescription drugs (Rx) growth is set to normalise in the second half.
It said BSV synergies will start reflecting in the 26% EBITDA margin guidance for the financial year 2026. Mankind Pharma had acquired Bharat Serums and Vaccines (BSV), a prominent player in the biologics and vaccines space, from Advent International for an enterprise value of ₹13,630 crore in July 2024, confirming a CNBC-TV18 newsbreak.Starting FY27, Mankind Pharma should achieve 1.5 times the growth seen in the Indian Pharmaceutical Market (IPM) and show further improvement in margins, Jefferies added.
Of the 17 analysts that have coverage on the stock, 12 have a “buy” rating, three have a “hold” rating and two have a “sell” rating.
Mankind Pharma shares gained 5.6% to hit an intraday high of र2,678 apiece on Friday, July 11. The stock was up 2.73% at र2,613.5 apiece at 11.45 am.
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