Genscript Biotech Corp Class H
01548: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
— | — | — | Jdtsrll |
GenScript’s Results Suggest Slowdown in Growth for Non-Cell Therapy Businesses, FVE Cut to HKD 18.50
No-moat GenScript’s full-year results were in line with our expectations. Top-line revenue for the year was within 2% of our expectations. However, revenue growth from the non-cell therapy businesses for the second half was only 15.7% year on year, suggesting that NCT growth will be slower than the last three years as COVID-19-related business fades. This is within our expectations, but we suspect it may have caught some investors by surprise, given the price action.