The pharmaceutical sector rebounded this week
This week, the pharmaceutical and biological index rose by about 1.71%, outperforming the Shanghai and Shenzhen 300 index by 3.38 percentage points, outperforming the Shanghai Composite Index by 2.83 percentage points, and ranking sixth in the industry. As of Friday (February 25), PE (TTM, excluding negative value) in the pharmaceutical industry was 29.12 times, below the "mean value - 1 times standard deviation" since 2015. Among the pharmaceutical level III sub industries, among the 13 sub industry sectors this week, 9 sub industry sectors rose and 4 sub industry sectors fell. Medical R & D outsourcing was the sub industry with the largest increase, up 5.29%. Pharmacies were the sub industry with the largest decline, down 2.48%. The sub industry with the highest valuation this week is hospital, and PE (TTM) is 78 times.
The pharmaceutical valuation has been reasonable, the market has stood firm, and the allocation needs to be increased
This week, medicine stood firm and gradually got out of the downturn. Next, the configuration of the pharmaceutical industry, taking into account the background of the pharmaceutical industry, on the one hand, the uncertainty caused by the continuous implementation of the centralized procurement policy this year (centralized procurement of consumables, national procurement, alliance procurement, etc.), on the other hand, the short-term pharmaceutical industry sector has not seen clear favorable policies / changes, and the valuations of many pharmaceutical companies have reached a very reasonable range, The uncertainty of policy changes makes many investors unable to start. As of February 25, PE · ttm40x of Pharmaceutical (CITIC) has been the valuation center of pharmaceutical history, and pharmaceutical has strong investment value.
We suggest the direction configuration of this year: Traditional Chinese medicine (policy friendly + undervalued value) + medical equipment (medical infrastructure) + scientific research reagents and upstream + other directions to find the target from bottom to top; Covid-19 small molecular medicine has contributed enough flexible performance to cdmo company. It is suggested to pay attention to Porton Pharma Solutions Ltd(300363) , Asymchem Laboratories (Tianjin) Co.Ltd(002821) and other targets. We suggest the following investment ideas:
(1) Chinese medicine sector: a sector of Chinese medicine: a sector of Chinese medicine: a brand name, a precious OTC + an innovative Chinese medicine + a chain of traditional Chinese medicine. We recommend the following: the famous brand, an expensive OTC + an innovative Chinese medicine + an innovative Chinese medicine + a chain of traditional Chinese medicine. We recommend the following: the famous brand, an expensive brand, an innovative Chinese medicine + an innovative Chinese medicine + an innovative Chinese medicine + a chain of Chinese medicine. We recommend the following: the famous brand, noble OTC + a brand, an innovative Chinese medicine + an innovative Chinese medicine + a chain of Chinese medicine + a chain of Chinese medicine. We recommend and focus on the targets such as the brand, such as the brand, such as the brand of the prestigious and prestigious, the brand of the prestigious, the prestigious, the brand of the prestigious, the prestigious and the prestigious, the brand of the prestigious, the brand, the precious, the OTC, the OTC, the OTC, the OTC, the OTC, the OTC, the OTC, the precious, the OTC, the OTC, the innovative, the innovative medicine, the innovative medicine, , Hunan Fangsheng Pharmaceutical Co.Ltd(603998) , Teyi Pharmaceutical Group Co.Ltd(002728) , Guilin Sanjin Pharmaceutical Co.Ltd(002275) , Zhejiang Shouxiangu Pharmaceutical Co.Ltd(603896) , Guangyuyuan Chinese Herbal Medicine Co.Ltd(600771) , Zhangzhou Pientzehuang Pharmaceutical Co.Ltd(600436) , etc.
(2) medical infrastructure sector: medical infrastructure sector: we recommend to focus on the medical infrastructure sector: we recommend to focus on the medical infrastructure sector: medical infrastructure sector: medical infrastructure sector: we recommend to focus on the Shenzhen Mindray Bio-Medical Electronics Co.Ltd(300760) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Shenzhen Yhlo Biotech Co.Ltd(688575) , Autobio Diagnostics Co.Ltd(603658) , Shenzhen Lifotronic Technology Co.Ltd(688389) , Maccura Biotechnology Co.Ltd(300463) , Tellgen Corporation(300642) , Guangzhou Wondfo Biotech Co.Ltd(300482) , etc, IVD enterprises play an important role in epidemic prevention and control (antibodies, antigens and nucleic acid detection reagents), which provides sufficient funds for the development of the company in the future.
(3) scientific research reagents and upstream: scientific research reagents and scientific research reagents and upstream: scientific research reagents and upstream: scientific research reagents and upstream: we propose to focus on the Nanjing Vazyme Biotech Co.Ltd(688105) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Zhejiangtailin Bioengineering Co.Ltd(300813) , Nanmo biology, etc.
Based on the company's proposal of "bottom-up" and "non biological" manufacturing, the company's valuation of "bottom-up" is the same as that of "PE" and "other" industries; The valuation of the medical service sector is low. We recommend haijiya and gushengtang with high cost performance and expansibility. We suggest paying attention to Aier Eye Hospital Group Co.Ltd(300015) , Chaoju Ophthalmology, Jinxin reproduction, etc; Biological products and vaccines need continuous attention. We recommend Chongqing Zhifei Biological Products Co.Ltd(300122) , Changchun Bcht Biotechnology Co(688276) , and Walvax Biotechnology Co.Ltd(300142) , Cansino Biologics Inc(688185) , Chengdu Olymvax Biopharmaceuticals Inc(688319) , Beijing Wantai Biological Pharmacy Enterprise Co.Ltd(603392) , etc; For household medical devices, it is recommended to pay attention to Jiangsu Yuyue Medical Equipment And Supply Co.Ltd(002223) (wind agrees that PE in 2022 is 17x) and Cofoe Medical Technology Co.Ltd(301087) (PE · TTM is 27x).
(5) in addition, for the innovative drug sector, we suggest paying attention to the innovative drug targets with international ability. We suggest paying attention to Jiangsu Hengrui Medicine Co.Ltd(600276) , Baiji Shenzhou, Shanghai Junshi Biosciences Co.Ltd(688180) , Betta Pharmaceuticals Co.Ltd(300558) , Hehuang medicine, kangfang biology, China biopharmaceutical, etc.
Performance of individual stocks this week: growth of most individual stocks
Among 421 stocks this week, 272 rose, accounting for 64.6%. Among the top ten medicine stocks that are among the top ten medicine stocks in the week of this week, among which the top ten medicine stocks that are among the top ten medicine stocks in the week are: Nanjing Hicin Pharmaceutical Co.Ltd(300584) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ (+ 19.67%), Shanxi C&Y Pharmaceutical Group Co.Ltd(300254) (+ 18.64%), Asahi Biology (+ 17.64%); The pharmaceutical stocks with the top ten of the week's decline in the top ten of the week's top ten medicine stocks are: wellwellwellhealthcare (- 19.66 percent (- 19.66%), Chengda pharmaceuticals (- 10.69%) (- 10.54%) Lanhai Medical Investment Co.Ltd(600896) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\ (- 5.61%), Beijing Hotgen Biotech Co.Ltd(688068) (- 5.55%). Of the 82 Hong Kong Pharmaceutical and biological stocks this week, only 28 rose, accounting for 34.1%.
Global covid-19 epidemic situation and vaccination
The number of newly confirmed cases in the world fell, and the number of cases in South Korea surged; The epidemic situation in Guangdong, Inner Mongolia, Guangxi, Liaoning, Tianjin and Sichuan in China. The number of vaccinations continued to grow, with the global average overall vaccination rate of about 56%, and the overall vaccination rate in China was about 85%. Omicron continues to rapidly replace delta worldwide.
