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BIOCON Consensus Forecast

No. of reports in last year
12
No. of analysts
6
Average Consensus Forecast
303.17
Consensus Potential
-36.37%

BIOCON Price Target Potential

BrokerageTargetPotential
Axis Direct47415.22%
Nirmal Bang272-47.74%
Motilal Oswal300-33.95%
ICICIdirect.com310-29.63%
Geojit Financial Services260-54.56%

BIOCON Targets in FrontPage Forums

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100% Bullish
0% Bearish
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BIOCON Ratings

Long term BIOCON rating by FrontPage users
4.4/5 (7 Ratings)

12 BIOCON share price target reports by brokerages below. See what is analyst's view on BIOCON share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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BIOCON Share Price Target

BIOCON Share Price Target - Broker Reports - 2020

18-May-20
Price @ Call: 331.8
Target: 474
BUY
COVID-19 LOCKDOWN PULLS THE PERFORMANCE OF BIOLOGICS DIVISION Biocon reported a tepid performance for Q4FY20 mainly on account of the one-off impact of the lockdown on the sales of Biologics (including Small Molecules) business; Biologics reported YoY de-growth of ~3% at Rs. 898 cr. on account of the logistics related issues due to lockdown to prevent the spread of CoVID-19 while other two businesses viz., Branded formulations and Research together has posted YoY growth of 9%. Management is confident of improved performance post opening up of the economy; management expects Q1FY21 to be better than Q4FY20 and growth to return by Q2FY21. We remain positive on the business prospects of Biocon, and it‘s launch pipeline and recommend BUY rating with price target of Rs 474, thus providing upside of 45%.
... Read more
18-May-20
Price @ Call: 331.8
Target: 272
SELL
Biocon has shared an aspirational target of reaching US$1bn in biologic revenue by FY22. Our forecasts for biologic revenue stand at US$650mn by FY22. Assuming the $1bn revenue target is met, the same will translate into an earnings upside of Rs5 per share to our FY22 EPS estimate of Rs12.3. We refrain from revising our estimates to guided targets as they remain contingent on timely / successful execution and potentially underestimate risks arising from any competitive response to Biocon launches and regulatory uncertainties. Innovators would look to defend their market share aggressively, unlike in case of small molecules, as capital costs are significant in case of biologics and facilities are not as fungible. We retain our estimates and recommend a Sell with a target price of Rs272 (22x FY22 EPS).
... Read more
27-Jan-20
Price @ Call: 289.1
Target: 300
NEUTRAL
Over FY19-22, we expect earnings CAGR of 28%, led by a CAGR of 36% in Biologics and 17% in Small molecules, with a 360bp margin improvement. We continue valuing BIOS at 25x and roll our TP to INR300 (prior: INR305) on 12M forward earnings basis. Maintain Neutral.
... Read more
27-Jan-20
Price @ Call: 289.1
Target: 252
SELL
Biocon has shared an aspirational target of reaching US$1bn in biologic revenue by FY22, which implies more than trebling of existing revenue base. Our existing forecasts assume biologic revenue reaching US$650mn by FY22. Assuming the target is met, this would imply a US$350mn upside to our estimate and would potentially translate into an earnings upside of Rs5 per share to our FY22 EPS estimate of Rs12.3. We refrain from revising our estimates to guided targets as they remain contingent on timely / successful execution and potentially underestimates risks arising from any competitive response to Biocon launches and regulatory uncertainties (approval and manufacturing compliance related). Innovators would look to defend their market share aggressively, unlike in case of small molecules as capital costs are significant in case of biologics and facilities are not as fungible. We also do not model an upside from any biologic launch in China market, which potentially can happen only in FY23. We have tweaked our estimates and retained the target price as Rs252 at 22x September FY22 EPS but due to recent run-up in price we revise the rating to Sell (from Accumulate earlier).
... Read more
27-Jan-20
Price @ Call: 294.45
Target: 310
HOLD
Backed by a strong pipeline (28 products under development) and expected new launches, we expect biologics growth momentum to sustain. The management is confident of achieving US$1 billion biological revenues by end of FY22. With better visibility, the company has optically accelerated the scalability capex and R&D, which is likely to push related expenses higher in the near term. Timely launches and ramp up of biosimilars in the developed as well as EMs and Syngene’s performances remain key levers for the company. That said, concerns about lower-than-expected PE valuation in biologics and holding company discount are likely to weigh in the near term. On an SoTP basis, we maintain target price of Rs 310 per share.
... Read more

BIOCON Share Price Target - Broker Reports - 2019

30-Oct-19
Price @ Call: 247.58
Target: 260
HOLD
We expect earnings to grow at healthy 34.6% CAGR over FY19-21E. Increasing R&D investment should support topline with new product launches and continued growth across the segments. However, concerns remain over FDA approvals for new facilities. We provide a HOLD rating on the stock with a target price of Rs. 260 based on ~24x FY21E adj. EPS.
... Read more
24-Oct-19
Price @ Call: 246.04
Target: 252
ACCUMULATE
Biocon 2QFY20 net earnings were lower than our expectations as margins of biologic business slipped on account of lower share of high margin US business and also higher R&D expense during the quarter. R&D expense should remain elevated as the company would continue to spend on augmenting the biosimilar pipeline. Biocon has shared an aspirational target of reaching US$1bn in biologic revenue by FY22, which implies more than trebling of existing revenue base. Our existing forecasts assume biologic revenue reaching US$650mn by FY22. Assuming the target is met, this would imply a US$350mn upside to our estimate and would potentially translate into an earnings upside of Rs5 per share to our FY22 EPS estimate of Rs12.3. We refrain from revising our estimates to guided targets as they remain contingent on timely / successful execution and potentially underestimates risks arising from any competitive response to Biocon launches and regulatory uncertainties (approval and manufacturing compliance related). Innovators would look to defend their market share aggressively, unlike in case of small molecules as capital costs are significant in case of biologics and facilities are not as fungible. We also do not model an upside from any biologic launch in China market, which potentially can happen only in FY23.
... Read more
24-Oct-19
Price @ Call: 246.04
Target: 310
BUY
Backed by a strong product pipeline (28 products under development) and expected new launches, we expects biologics growth to remain strong. The management is confident of achieving US$ 1 billion biological revenues by the end of FY22 (~US$140 million in H1FY20). With better visibility, the company has optically accelerated the scalability capex and R&D, which is likely to push related expenses higher in the near term. Timely launches and ramp up of biosimilars in the developed countries as well as EMs andSyngene’s performances remain key levers for the company. On an SoTP basis, we ascribe a target price of Rs 310/share.
... Read more
2-Aug-19
Price @ Call: 224.64
Target: 300
BUY
Valuation: We like Biocon for its long term earnings visibility, strong traction in biologics segment, healthy launch pipeline of biosimilar coupled with increasing market penetration of the existing products. In our view, Biocon is well placed to play the first mover advantage in evolving biosimilar market. Maintain BUY. We have revised our target price to Rs300 (Rs320 earlier) based on SoTP valuation. We expect robust earnings growth of ~30% EPS CAGR over FY19-21E. At CMP, the stock is trading at a PE of 32x/23x on FY20/FY21 earnings.
... Read more
2-Aug-19
Price @ Call: 224.64
Target: 321
BUY
We continue to expect company to get benefits of first wave of Biosimilar commercialisation in the next two years which should drive higher revenues and margins. We have updated our financials reflecting latest quarterly numbers and continue to remain positive on the stock and maintain our BUY rating with a revised target price of ₹321 per share.
... Read more
29-Jul-19
Price @ Call: 241.6
Target: 257
ACCUMULATE
We have made minor changes to our estimates for Biocon based on 1QFY20 numbers/commentary. Biocon’s revenue and net profit growth should remain on positive trajectory in the near to medium term. The new launches should add to the topline, but existing high value launches (Fulphila) would be prone to price erosion as new competition enters market. We see challenges for biosimilar players including Biocon in gaining share in Trastuzumab. In view of the recent ~25% correction in the stock price we upgrade Biocon from Sell to Accumulate with a target price (TP) of Rs257 (adjusted for bonus issue), based on 22x FY21E earnings.
... Read more
26-Jul-19
Price @ Call: 244.21
Target: 330
BUY
Like FY19, FY20 is also expected to be driven by growth segments i.e. 1) biologics mainly on the back of new launches across developed markets and geographical expansion in emerging markets and 2) Syngene on the back ofpersistent clients’ addition. With better visibility, the company has optically accelerated the scalability capex and R&D, which is likely to push related expenses higher in the near term. Biosimilar launches in developed as well as emerging markets and Syngene’s performances remain key levers for the company. On an SoTP basis, we ascribe a target price of Rs 330/share.
... Read more
13-Jun-19
Price @ Call: 258.15
Target: 330
BUY
We remain positive on the stock on the back of strong prospects in both biologics and services (Syngene) segments. We believe the correction in the stock is overdone and the stock offers a compelling bet at the current level. We maintain our BUY recommendation on the stock. Our revised target price of Rs 330 is based on the SOTP methodology.
... Read more
26-Apr-19
Price @ Call: 310.5
Target: 365
BUY
Robust FY19 numbers were primarily driven by growth segments i.e. 1) biologics mainly on the back of new launches across developed and emerging markets and geographical expansion in emerging markets and 2) Syngene on the back of persistent clients’ addition. With better visibility, the company has optically accelerated the scalability capex and R&D, which is likely to push related expenses higher in the near term. Biosimilar launches in developed as well as emerging markets and Syngene’s performances remain key levers for the company. On an SoTP basis, we ascribe a target price of Rs 730 per share.
... Read more
2-Feb-19
Price @ Call: 330.15
Target: 234
SELL
28-Jan-19
Price @ Call: 331.55
Target: 342.5
NEUTRAL
28-Jan-19
Price @ Call: 331.55
Target: 380
BUY

BIOCON Share Price Target - Broker Reports - 2018

19-Dec-18
Price @ Call: 320.33
Target: 215
REDUCE
17-Dec-18
Price @ Call: 323.18
Target: 411.5
BUY
27-Oct-18
Price @ Call: 311.03
Target: 325
NEUTRAL
28-Jul-18
Price @ Call: 298.96
Target: 312.5
NEUTRAL
27-Jul-18
Price @ Call: 298.96
Target: 370
BUY
29-Jan-18
Price @ Call: 607.3
Target: 680
BUY

BIOCON Share Price Target - Broker Reports - 2017

4-Dec-17
Price @ Call: 446.55
Target: 560
BUY
3-Nov-17
Price @ Call: 403.19
Target: 410
BUY
24-Aug-17
Price @ Call: 330.15
Target: 380
BUY
2-Aug-17
Price @ Call: 383.27
Target: 450
BUY
28-Jul-17
Price @ Call: 390
Target: 330
SELL
27-Jul-17
Price @ Call: 399
Target: 450
HOLD
28-Apr-17
Price @ Call: 368.33
Target: 300
SELL
25-Jan-17
Price @ Call: 331.83
Target: 250
SELL
27-Jan-17
Price @ Call: 341.23
Target: 373.33
BUY

BIOCON Share Price Target - Broker Reports - 2016

11-May-16
Price @ Call: 203.45
Target: 250
BUY
28-Apr-16
Price @ Call: 190.33
Target: 226.67
BUY
21-Oct-16
Price @ Call: 326.67
Target: 260
SELL
21-Oct-16
Price @ Call: 335.33
Target: 400
BUY
24-Oct-16
Price @ Call: 335.33
Target: 343.33
HOLD
26-Aug-16
Price @ Call: 288.67
Target: 343.33
BUY
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  • BIOCON Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3421.62
    Upside Target 2413.98
    Upside Target 1407.92
    Pivot400.28
    Downside Target 1394.22
    Downside Target 2386.58
    Downside Target 3380.52
  • BIOCON Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3431.65
    Upside Target 2420
    Upside Target 1407.8
    Pivot396.15
    Downside Target 1383.95
    Downside Target 2372.3
    Downside Target 3360.1
  • BIOCON Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3467.55
    Upside Target 2439
    Upside Target 1414.55
    Pivot386
    Downside Target 1361.55
    Downside Target 2333
    Downside Target 3308.55
  • BIOCON Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3413.98
    Upside Target 2408.75
    Upside Target 1405.52
    Pivot400.28
    Downside Target 1395.05
    Downside Target 2391.82
    Downside Target 3386.58
  • BIOCON Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3420
    Upside Target 2410.89
    Upside Target 1405.26
    Pivot396.15
    Downside Target 1387.04
    Downside Target 2381.41
    Downside Target 3372.3
  • BIOCON Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3439
    Upside Target 2418.75
    Upside Target 1406.25
    Pivot386
    Downside Target 1365.75
    Downside Target 2353.25
    Downside Target 3333
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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