Recently, pharmaceutical stocks have started the mode of sharp rise and fall.

Today, medicine-related plates fully broke out, A shares, CRO concept, medical services, biological products, innovative drugs, ophthalmology, medical beauty and other sectors led the increase. On individual stocks, Baicheng Pharmaceutical 20cm rose by the daily limit, Pharmaceutical Technology rose by more than 16%, Pharmaron Beijing Co., Ltd.* by more than 15%, Tigermed by more than 11%, Zhaoyan New Medicine, Kellein, Baihua Pharmaceutical and other stocks rose by the daily limit, Boteng Pharmaceutical, Haoyuan Pharmaceutical and so on.

In terms of Hong Kong stocks, concepts such as pharmaceutical outsourcing, biotechnology and traditional Chinese medicine also rose. In individual stocks, Konoya rose by more than 14%, Keji Pharmaceutical and CANSINOBIO by more than 13%, Zhaoyan New Drug and Tigermed by more than 11%, and Wuxi Apptec and Wuxi Biologics rose one after another.

Strong performance

On the news side, a number of medical white horse stocks released three quarterly reports in after-hours yesterday, significantly exceeding market expectations. Strong performance supported the share price, and the share price of Medical White Horse soared today.

Among themLove beauty guestIn the third quarter, the operating income was 605 million yuan, an increase of 55.15% over the same period last year, and the net profit was 401 million yuan, an increase of 41.55% over the same period last year. The net profit in the first three quarters was 992 million yuan, an increase of 39.96 percent over the same period last year.

Eyre ophthalmologyThe net profit in the first three quarters was 2.357 billion yuan, an increase of 17.65% over the same period last year. The results of the third quarter further recovered, and profits increased by more than 20% over the same period last year.

East China medicineIn the third quarter, the operating income was 9.661 billion yuan, an increase of 10.43% over the same period last year, and the net profit was 641 million yuan, an increase of 7.71% over the same period last year. The net profit in the first three quarters was 1.981 billion yuan, an increase of 4.54 percent over the same period last year.

TigermedThe operating income in the third quarter was about 1.812 billion yuan, an increase of 35.35% over the same period last year, while the net profit from home was about 413 million yuan, down 21.56% from the same period last year. The cumulative revenue in the first three quarters was 5.406 billion yuan, an increase of 59.23% over the same period last year, while the net profit returned to the mother was 1.605 billion yuan, down 9.9% from the same period last year. Li Xiaoxing said frankly that medicine is already in the bottom area.

Zhang Kun increased the stock of medicine in the third quarter, Li Xiaoxing said frankly that medicine was already in the bottom area.

Yesterday, Zhang Kun, a top fund manager, disclosed the three quarterly reports in charge of the fund. On the position, the stock position of the fund managed by Zhang Kun was basically stable in the third quarter, and the structure was adjusted.Increased the allocation of pharmaceutical and other industries, reducing the allocation of finance, consumption and other industries. Heavy stocks, Yi Fangda blue chip selection to increase the holdings of Wuxi Biologics, the increase of 100.74%, the market value of the position is 2.324 billion yuan.

In the three quarterly reportsFor the pharmaceutical industry, Li Xiaoxing, a fund manager under Yinhua FundSays the medicine is already at the bottom of the area. Recently, there have indeed been some changes in medicine, such as the update of medical equipment for financial discount loans, changes in the UVL list in the United States, and so on.Medicine should have an upward repair valuation in the short term. But in the medium to long term, due to the lack of prosperity obvious upward main line of the plate, there will be more stock opportunities.

Policy relaxation, superimposed low valuation, multi-institutions are optimistic about the return of long-term value of the plate.

In addition to the pre-gratification of the three quarterly reports, the recent gradual recovery of pharmaceutical stocks mainly lies in the continuous positive policies in recent days and the superimposed low valuation.

Everbright SecuritiesThe current valuation of the pharmaceutical sector is still at its lowest level in nearly a decade, and the proportion of institutional allocation is also low, it said. Recently, domestic policies have been positive frequently, such as the introduction of the 22 provincial procurement plan for liver function biochemical testing reagents, which has greatly slowed down the decline; new indications for drugs can be easily renewed without renegotiation; and National Healthcare Security Administration has once again made it clear that innovative medical devices will not be collected for the time being, and that dental implants will not be included in the scope of health insurance payment for the time being. The policy margin has improved significantly, market sentiment is expected to continue to repair, and continue to be optimistic about investment opportunities in the pharmaceutical sector in the fourth quarter.

Guojin SecuritiesSaid that the performance of the pharmaceutical sector bottomed out in the second quarter (collection, epidemic control and other factors), and the performance is expected to continue to recover in the third quarter. In the context of a sustained marginal pick-up in policy, we should pay attention to the national health insurance negotiations in the fourth quarter, as well as the accelerated commercialization of new varieties next year.

• Pharma enterprises with both R & D ability and mature sales ability

• An enterprise that has grown successfully from Biotech to BioPharma

• Head Biotech enterprise with innovative R & D capability. At the same time, pay attention to COVID-19 prevention and control-related drugs and vaccine research and development, production progress, pay attention to the relevant pharmaceutical companies, vaccine enterprises and their industry chain.

Sino-Thai SecuritiesIt is pointed out that the CRO sector has been in a continuous pullback for 5 quarters, and valuations have shrunk to historic lows and entered the adaptation range. CRO plate as a high-quality track with long slope and thick snow, the integrated platform "front-end diversion + back-end extension" business model accelerates harvest and continues to be optimistic:

• Continuous recovery in the post-epidemic era and the diversion of front-end projects are expected to lead to accelerated growth of clinical CRO: Tigermed, etc.

• End-to-end, integrated CRO, CDMO: Wuxi Biologics, Wuxi Apptec, Pharmaron Beijing Co., Ltd.*, etc.

• Characteristic subdivision track head company: Zhaoyan new medicine, medicine stone science and technology, etc.4) "small and beautiful" objects that continue to grow rapidly or reverse at the bottom: Medisi, Chengdu forerunner, etc.

• Head CDMO with large orders and accelerated extension of back-end projects: Kailiying, Boteng shares, etc.

Before that,Minsheng SecuritiesIt means that the time for medicine to hit bottom has come, and the recovery growth can be expected in the future. At present, the collection of drugs has reached the post-cycle, and the collection of equipment consumables has also passed the middle stage, and innovation guidance will be gradually reflected. Commercial products of many innovative companies begin to put volume. Judging from the situation of Q2 this year, the growth rate of innovative drugs and CXO plate is still very beautiful, so the bank is optimistic about the rise of the bottom of the innovation plate, driving the long-term rise of the entire pharmaceutical plate.