![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
Sun Pharma Stock Surges over 3% on Tuesday Following an Upgrade from ICICI Securities
Mar 12, 2025 at 04:05 pm
Sun Pharmaceutical Industries Limited saw a notable uptick in its stock price
Sun Pharmaceutical Industries Limited's stock price went up on Tuesday after ICICI Securities upgraded the company's rating from ‘Hold’ to ‘Buy’ and raised its price target.
The new report from the brokerage firm highlights strong growth potential and a recent strategic acquisition by Sun Pharma, which specializes in making drugs.
Early in trading on Tuesday, Sun Pharma's shares went up more than 3% to reach Rs 1,655.95 apiece. This follows a correction of almost 10% over the last two months.
Later in the day, the shares were trading at Rs 1,634.85 apiece, up 1.4%.
The new price target from ICICI Securities is Rs 1,895, which is based on 31x the brokerage firm's estimate for FY 27 earnings per share. Before, the price target was based on a 32x multiple of the company's estimated FY 26 earnings per share.
The report from the brokerage firm also says, "We prefer Sun Pharma over peers due to its specialty focus, strong R&D productivity, and improving balance sheet."
Other major brokerage firms are also optimistic about Sun Pharma. Both Motilal Oswal and HDFC Securities keep their 'Buy' ratings and price target of Rs 1,970, while Incred maintains a 'Hold' rating with a price target of Rs 1,900.
This positive outlook from several analysts suggests that everyone agrees that Sun Pharma's recent strategic moves could be important for investors and lead to a good return on investment.
Sun Pharma is expanding its oncology presence
One of the main reasons for the stock's recent momentum is the acquisition of Checkpoint Therapeutics, a biotech company listed on Nasdaq that is in the early stages of development and focuses on oncology.
The acquisition, which is valued at $355 million, is part of Sun Pharma's long-term plan to become stronger in the oncology and immunotherapy markets.
"The transaction is expected to close in the second half of 2025 and is subject to regulatory approvals and other standard closing conditions," the statement said.
Checkpoint is best known for making anti-PD-L1 (Programmed Death Ligand-1) inhibitors, which are used to treat several types of cancer with fewer side effects than traditional chemotherapy.
This move puts Sun Pharma in the lively space of immuno-oncology and adds to its already strong portfolio of onco-dermatology products.
The acquisition also fits with Sun Pharma's strategy of making more specialty products in areas of treatment that are growing quickly. Earlier in 2023, Sun Pharma bought Concert Pharmaceuticals for $576 million, which increased its portfolio of dermatology and autoimmune treatments.
"This acquisition is a part of Sun Pharma's strategy to expand its specialty pharmaceutical business, especially in oncology and dermatology, which is a key area of focus for the company," the statement said.
Recently, Sun Pharma has been quickly expanding its specialty pharmaceutical business and making a series of strategic investments to strengthen its pipeline.
In 2024, the company also made a deal with Philogen to get the global exclusive commercialization, licensing, and supply rights for FIBROMUN, a promising oncology product. This move shows that it is committed to becoming a leader in specialty pharmaceuticals, especially for cancer treatment.
As the global immuno-oncology sector is expected to grow quickly over the next ten years thanks to advances in targeted therapies and biologics, Sun Pharma's latest acquisition could help it stand out in a competitive market.
The company is also making a big effort to expand into China, which is the world's second-largest pharmaceutical market.
Earlier this year, it was said that Sun Pharma would apply for approval to sell two of its specialty drugs in China, which shows that it wants to expand into new geographical markets.
With strong financial backing and a clear vision for the future, Sun Pharma seems to be well-suited to take advantage of new opportunities in the global pharmaceutical market as it expands its specialty business, and market researchers will be paying close attention to see how it does.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- "The Bank of Korea has expressed reluctance regarding discussions about including Bitcoin in foreign exchange reserves."
- Mar 16, 2025 at 01:45 pm
- "On the 16th, the Bank of Korea responded to written inquiries from Representative Cha Gyu-geun of the Joguk Innovation Party, a member of the National Assembly's Planning and Finance Committee, stating that "a cautious approach is needed regarding the inclusion of Bitcoin in foreign exchange reserves."
-
- Mutuum Finance (MUTM) Attracts Furious Investor Interest as Its Presale Speedily Advances
- Mar 16, 2025 at 01:45 pm
- With its presale speedily advancing — with Phase 3 tokens at $0.02 flying off the shelves in advance of a likely price hike — Mutuum Finance (MUTM) is attracting furious investor interest.
-
- Sleep Token are back with Even In Arcadia, their fourth album and first under RCA Records, set for release on May 9.
- Mar 16, 2025 at 01:05 pm
- The album follows their acclaimed third album,Take Me Back to Eden. To celebrate the announcement, the group has unveiled their new single, “Emergence,” which is also available on seven-inch vinyl.
-
-
-
-
-
-
- ADA price analysis: As the weekend approaches, the overall cryptocurrency market has begun to output: to recover, showing signs of an upward rally.
- Mar 16, 2025 at 12:45 pm
- According to expert technical analysis, ADA has formed a bullish inverted head and shoulders pattern and is now on the verge of a breakout.